Savvy Trades and Investments

[jtomm]

UUU - Found something. Even assuming sales are down a bit, found this in the 10-K which will mean an awful lot to a company with only 2.3m shares outstanding. They paid off a loan (reflected in both balance sheet and cash flow statement) on which they were paying $100k per month. So that's $1.2m per year that theoretically drops to the bottom line. Roughly $.50 per share in earnings improvement possible next year just from this alone:

NOTE K – NOTE PAYABLE – EYSTON COMPANY, LTD.

On March 31, 2020, the Company sold its fifty percent ownership interest in the Hong Kong Joint Venture and converted $1,081,440 of trade accounts payable due to the Hong Kong Joint Venture to an unsecured long-term interest only note payable with the principal balance due in April 2022. The terms of the note payable were amended subsequent to March 31, 2022, to provide for monthly payments of $100,000 beginning April 2022 and until the note payable is paid in full. Interest is based on the Shanghai Commercial Bank Limited in Hong Kong US Dollar prime rate published on the first day of each calendar month plus 2% (5.5% effective rate at March 31, 2022) and is payable monthly. The balance of the note payable at March 31, 2023 is $0.