Post by
EbbFlow88 on Aug 28, 2023 1:14pm
Do they own the remaining three facilities?
Does anyone know if they fully own the remaining three facilities in BC, AB and CA? The value for PPE is around 46M on the books. Even with depreciation that seems low for all three buildings.
Thanks in advance!
Comment by
EbbFlow88 on Aug 28, 2023 1:39pm
I see that they bought the Calgary warehouse after selling Etiwanda for 11M but the other two assets are likely worth much more.
Comment by
Mrguillaume on Aug 28, 2023 2:16pm
Their Richmond, BC site is owned also. It is where the bulk of manufacturing takes place. This site is approx. 37 acres and had a 2023 assessment for property tax purposes of $126 million (and no debt)! The San Bernadino, CA site is leased. The shares are trading slightly below working capital of $90 million. The land is free.
Comment by
EbbFlow88 on Aug 28, 2023 2:25pm
Thank you! That's what I figured but just trying to get an estimate on what that property and land is worth. That's very helpful. The shares seem to trade mainly on earnings but it's nice to know that you have the real estate as downside protection.