November presentation on web now. Very upbeat presentation from shareholders point of view.
As of Sept 30 net debt was $40 million. Since then they have repaid another $14 million.
So net debt must be around $26 million now.
This is why, imho, earnings are only 4 cents every quarter. Cash flow has gone into reducing debt to what is now a very, very low level.
This may mean one of two things imho. 1. The company is going to do a acquisition? or 2. The company ius going to be sold to maybe another forest company, maybe even to management and private equity with the buyer leversaging up the WEF balance sheet to pay for the acquisition or we are going to be entering a period of huge profits.
All imho of course. Any one have another theory?