Polaris International Holdings (PIHN)

[oneinamillion]

First post 2011-Obviously, it was disappointing closing at the lows for the year considering we had the best financial year ever by far in PIHN but with the losses in the stock you would have expected even worse tax selling. A majority are giving KUNI the benefit of the doubt for now. The cost of financing with shares did not outweigh the benefits so far. The acquisition should have put us back in the positive and closed the year on a rally but that did not materialize-- now we wait for info to see if they can Get the Cali deal locked up and get that US presence we were promised in 2010. The strength of the Cali deal was its ability to feed off the Japan business per the email so it could expand the success of the US acquired business using the Japan successful formula. The size of the deal of 13 million is not super huge but will result in close to a 20 million dollar company and the present market value is close to 1.5 million allowing for a nice valuation boost even with the financing necessary to lock up the deal. Would like to see use of preferreds and cash on hand to help reduce ongoing financing cost-maybe even KUNI and pal using their restricted holdings. Things got fuzzy the last few months of 2010, storms usually pass and the skies clear again-hopefullly, that happpens in early to mid January. Want to see the year get off to a strong start. I am assuming happy holidays email was sincere for now but KUNI did leave us with a ton of questions. I hope the best for all of you in this investment and the others you have for 2011 and beyond.