Saturday, December 17, 2022 2:38:54 PM
Fair value in 2014 was close to $15/share. before and after the asset swap. Confirmed by 2 appraisal firms.
It could easily be $25/share now. They are keeping > 90% of the assets off-balance sheet. They say if they hadn't done that, they wouldn't have been able to file and gone straight to the grey sheets last year.
They have been struggling ever since. The spin-offs and preferred stock dividend are somehow related to giving us that value. And/or they may have to fully disclose the assets, audited and all.
Anything less than $10 here is a rip-off. That's for sure.
How to get it, that's the big question. Not just for us but for management too.
They could have bought our shares or go private, but the problem with that is, most of the cash is sitting in China. Some or most of that money is invested. And very hard to transfer to the US.
If they rip us off, we will sue.
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