Stock price
IMO, the share price now reflects the GAAP earnings and misgivings over the dairy sale.
It does not reflect:
1) 2010 operating income
2) New fish farm contract
3) Dramatically enhanced intermediate and long term prospects of 60% eps growth, even 2011, and especially 2012+
4) Huge automatic growth in 2011 flower income
5) Uplisting progress
Having talked to Chad late last week after the 10-K release, his opinion is that nothing has changed for 2011 earnings. Studying the 10-K, I agree that guidance can be maintained because of the flower business acreage, as well as predictable growth in cattle and fish, as well as unknown plans for the new, highly valued land.
On top of this, the company -- through Chad -- has posted that an already very healthy balance sheet will show even better net tangible asset value. There are a number of ways this can happen, including rebates and governement grants, as we've seen in the past.
I see today's decline as a timing problem.
Unfortunately, the 10-K release was not coupled with the conference call, as it should have been. Mr. Lee has always hit his marks, and designed solid business strategies. So, I expect the conference call to quell today's concerns, and represent a buying opportunity -- just like the knee jerk 10-K reaction -- for those who know the company's history.
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