Blue Dolphin Energy Company (BDCO)

[snow]

gosox

The financial improved substantially during the calendar year 2022. These numbers relate to net assets for 2022 and 2021:

"TOTAL STOCKHOLDERS' EQUITY (DEFICIT)

10,588
(23,627 )"

It improved another some 20 million dollars during the second quater to about 34 million dollars. Assuming 17 million shares net assets would seem to be about 2 dollars per share at the end of the first qarter. This means that the company no longer seems to be in a stressed financial position. But the net asset backing per share is only a third of the stock price at a pps of 6 dollars per share. This means that the net assets represent no good reason to pay more than 6 dollars per share. This is not a company that can anticdipate much growth. Therefore the net asset backing is quite important when it comes to what is a fair stock price.