RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:LOI, to acquire EWSREALRETURNS wrote: I don't believe AC simmonds and sons is worth $10, Mr Simmonds bought 5.7 million shares for less than $400k, so about 7 cents a share of ACSX, and u tell me after 9 months it's worth $10?!! The $10 a share is just a hypothetical number but it's actually is a lot less than that, the company has an asset of $20 million and liabilities of $17 million and nd only have $84 in cash ... This deal will not go through the way it is now.
At this price, AC Simmonds is valued at $4 (if we are at 10 cents). This is more like it.
So if u wanna buy shares, do it now, John Simmonds had bought many businesses in the past few months, trucking, food, technology, oil and gas, gold ...etc. at $4 the company is valued at $80 million, which is maybe where the stock should be now.
I believe his idea is building a company through acquiring others for shares and spending "zero" dollar from his own pocket, he gets the value up then sell the businesses when they have better cash flow, better sales...etc. He had done this before many times.