Riverstone (RSTN)

[thealicemay]

Still Accumulating

It has now been 11 months since RSTN announced they’ve retained Grant Thornton to do their audit and reporting. I hope they aren’t paying by the hour.

I’ve picked-up another block today at 57 cents. I’m hoping they will announce earnings before the one-year anniversary (October 14th) of the GT announcement. Last PR on cash was $133M. With $66 million in debt this thing is trading near cash value. Assuming the share count hasn’t changed.

The growth numbers I’m seeing in recent PRs also intrigues me. I’m falling back on Jim Cramer’s mantra – “Growth is everything.”

When people ask me how much stock I have I give one of two answers: Not enough or too much. Right now it’s the later, would love to be complaining about not having enough.

TAM