Hey guys, any reason we are talking about the price COIN paid for Terra? I mean really 75 cents!! that was like 2 reverse splits ago, and it is not like they paid cash, they used stock to buy it. Well actually they used your money Detective, when you thought it was a buy at $1.25 - $1.50 range split adjusted $1000!!!
The only thing that matters today is what is the operating and financing savings from this sale??? I am having a tough time coming up with a number can you guys help me out here. Det you are good with this kind of stuff. I believe the debt that was absorbed by the buyer is $2MM, in that range!!! What is the loan rate they were paying?? is it the 10%?? are wee looking at a $200,000 annual savings on financing roughly?? please fill me in if you know.
Second how much SG&A is there for Terra?? I know they wacked Nick, but there must have been some overhead for this business that is now gone or will be.
Finally, did hey still own that plant in B.C., and if so what kind of annual savings will we get from not having to keep it running, and if they were not in the building they must have put all that equipment in storage somewhere and will not have to pay this anymore.
This company had 3 business that made no money, 4 if you count the corporate as a business. They have gotten rid of the WW, Vertical Farming, and Woodbridge dry fertilizer businesses that create this massive cash burn without revenue to support. The Gonzales plant is basically self sustained, if you remove the overheads. As far as I know all management has taked pay cuts to reduce overheads as there work load must be deminishing to next to nothing. At this point the company is so flat, and the managament has enough cash from the pay they recieved to basically buy back most of the stock. That is what I would do, and I would at the same time reduce my salary to $1 per annum, and watch my $0.0015 shares skyrocket. This will put the company back in a position to buy similar businesses to Gonzales with stock again!!!
JMHO!! These guys have options, and so do we!!
GLA!
Happy holidays to all!!
