High Arctic Energy Services Inc T.HWO

Valuation

[colourama]

This has already been commented on several times, but with the latest financials, HWO has

$42.587 million net cash
$8.112 million equity investments in Team Snubbing
$2.685 million note receivable in Team Snubbing

These three give a total of $53.384million/48.69 million shares = $1.096/share

At the current valuation, investors purchasing shares get the entire PNG business for free.

[Stonksonlyup90]

PNG for free, as well as the other Canadian business (Nitrogen pumping, equipment rentals).. and don't forget the $130M in non-cap tax losses that will surely be marketed once this reorg is final... all that for FREE!   It's no wonder they are carving up the business and selling it off/taking PNG private - the sum of the parts is greater than current valuation (significantly