RE:RE:Hamster calls "bankruptcy"- RubbishHammyHamster wrote: Reading that MD&A makes me think it's a very real possibility.
Does that quote sound like I am calling BK ??? I'm just saying that it was horrific enough to make me (and other people) think it's a possibility, which it very much is. I don't believe it will happen but am not willing to go all in until under 10 cents, preferrably closer to 5, which by the way is still twice the book value of this company.
Like I said all along don't be fooled by Jeff and his cronies as they have another agenda (but we are smart enough to see through it, aren't we?). Be patient and consider selling some or all of your position, it's still not too late. You will get your shot at sub 10 soon enough and then start thinking about loading up.
Hope that clears it up for you.
Under book value? Wrong again. Did you not read the news release? Arable land in the U.S. is a scarce resource. Only about 16% of land can be used for farming. USDA organic approved land is even more rare because of how stringent regulations are to acquire it.
As stockfox has pointed out, a competitor of VEG's was valued at $52,000 PER ACRE of USDA approved organic land. If VEG got their land revalued at a similar price, then let's do the math.
(9,000 Acres x $52,000)/79,000,000 fully diluted shares outstanding
That's a book value of $5.92 on the land, alone. You don't think that management knows this and likely will get an appraisal doen to update their book values, especially under IFRS rules that allow for regularly updating fixed assets at fair value? Come on man. Get real.