Wednesday, July 11, 2007 10:19:49 PM
Bryan said that his plan for EVSF didn't work out for money reasons, so he had to sell the company rather than continue putting more of his own cash in once the financing he had been promised fell through.
One might suppose that he could have dumped EVSF on the cheap out of desperation, except for the following point of interest.
Bryan also mentioned that he had several buyers lined up and took the most attractive deal for shareholders (which means him and us right now), so as a businessman, he would have used the presence of a few interested parties to make sure there is good value in it for himself.
I think his shares are worth a hell of a lot more than .25 a share once the details of our manufacturer come out.
Look at biomedeng's post earlier concerning the 7 million yards of fabric our manufacturer makes each year. Look also at my post from over the weekend concerning a guess valuation based on number of employees and (according to Bryan) Dazhu Fuda asset size when benchmarked against Dazhu Golden Ramee Textile Co, for whom the numbers (asset value and revenues) are both known quantities. Admittedly the profit margin is not known, although I did provide a link for the 14% margin achieved by another textile manufacturer in China and based my possible valuation on a 10% margin.
I think there is plenty of potential, although we do need to see the filing stating it is a done deal and the particulars of the final deal when it is an official filing.
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