Proliance International Inc (PLNTQ)

[Cowboy]

Looks like PLI has two choices now that it has been halted awaiting news.

1. They get some financing and open much higher based on the announcement.

2. They don't get financing and file Chapter 11 get a "Q" rating and then go for DIP financing.

Assets: 160.31 million
Liabilities: 133.49 million

Total Equity: 26.82 million

Cash on hand: 2.23 million or .142 per share
Book value: $1.699 (PS)

Enterprise Value: 36.58 million and closed with market cap of only 2.22 million

Cash is the only weak link here...so a selection of either above options and I think we do just fine.