RE:RE:RE:RE:ANOTHER TID NEWS ARTICLE . quoting two parts from his report
Price to tangible book value is approximately $0.22, where average among competitors is around $0.81. Enterprise value to tangible book value is $0.94, with competitor averages around $1.54. The asset base is quite young and not overly differentiated from competitors, so if an asset sale were needed, it should not be difficult to conduct. Given a liquidation scenario, there should be ample room to pay debt and give equity holders a decent return. Assets could be sold off at 65% of book before equity holders would start to feel a squeeze.
A number of potential catalysts suggest the company is shaping up for a shareholder-friendly event, and given Tuscany’s market presence and the returning CEO’s expertise, we believe the likelihood of some event is high. Additionally, the asset base supports a low probability of loss, which sets up an attractive risk/reward scenario.
Thanks again Rapid for that nice find.