Morning Rig. I’ve compiled some simple DD on FELPU. Seems like there’s still a lot of room to run on that one.
FELPU DD REPORT. NET ASSETS OF $500m = $6.17 per share. Current share price 13 cents!
Can we say there’s a lot more room to run?
It’s surprising that FELPU - Forsight Energy which crashed out of the NYSE straight into the OTCQX is listed on the OTCX.
This company is penny stock exempt and still fully SEC reporting.
Company Overview
(Taken from OTC Markets.)
Foresight Energy is a leading producer of thermal coal. With nearly 2.1 billion tons of coal reserves, we are among the largest holders of coal reserves in the United States and our reserves can support over 75 years of production at our current production level. We operate four mining complexes in the Illinois Basin.
However, this poster on twitter has taken extracts from the company’s balance sheet showing that the company still has assets (minus liabilities) of $500m.
On a fully diluted basis of 80, 996, 773 Outstanding Shares divided by $500, 000, 000.00 that makes a net asset value of $6.17 per share.
See the extract from the accounts on this twitter poster’s account.
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