RE:Book Value is $4.3010x lol
Can't buy or sell any shares, will drive price up or down 30%.
I assume no one will sell while driving the price down 30%.
The problem is that enterprise value is tied to debt level, so giving discount to assets being sold, this is not worth that much. Only partial information being provided by management team is also the big problem. New buildings at $35M but how much is indebted from $35M? Only $0.9M saved after firing one executive? They should all take a pay cut since this is less than 20M market cap, should not and cannot taken more than millions in executive salary at this level. It should only be like 200k max.
Debentures were attractive at $40 but not anymore. Had 2.5x guaranteed return plus crazy interest payment.