Decorator Industries Inc. (fka DINIQ)

[trendtraderz]

Last weekend I spent a few hours reading the entire 200 plus pages of the summary of schedule. They dropped the initial retainer on their BK lawyers on August 9th 2010. Over a full year before the actual filing. Robotti's representative Chris Sansone became a board member in June of 2011 roughly 4 months before the chapter 11 BK filing. There is nothing hostile and or no animosity between equity and debtor. Can you imagine if Robotti didn't have spot on the board? I am convinced we wouldnt have gotten any of the cheap shares. He would of sucked up every last one of the shares traded during the 2012 March share price fire sale. But thankfully he had inside information at that point due to his board of directors appointment and was restricted. By the end of this they will own no real estate everything will be leased. Whether thats good or bad is subjective. I think it will give them the flexibilty to grow or contract w/ the economy in a more liquid manner. Revenues had stabilized at 15M a year and the cost on the revenues varies between 80% and 84% per year. Which should give them a net income of 2M to 3M yearly. My big curiosity is whether they plan on continuing on as Decorator Industries Inc., post bankruptcy or if they sell the newly restructured company. Either way my $180.00 investment will reap many multiples in the future.