RE: dropping like a rock at 8.5 centsYes maybe all of the suspicious investors should arrange a special meeting to try to put a picture together of what has been happening and why. Perhaps an investigator or examiner could join the group as a resource.
It seems a might strange to me that LB could buy Pensar last December using only debt when the ATQ board chose to raise $1.5 million of debt with a MASSIVE dilution. Strange don't you find? I wonder if this was truly a crisis or if in fact the board and management knew in advance that they would need this money but chose to not look too far. Was an 18 million warrant issue at $0.08/share in the shareholders interest? What other options were explored. Interesting that LB was able to raise debt.
The LB purchase of Pensar was the purchase of a company very similar in size to Adeptron. It was done at just under 1x sales. This would be a value on ATQ of around $0.45 per share so it seems unclear why this stock is trading below this amount.
Interesting. Check out the following and let us know what you think:
From the details provided by LaBarge in its SEC approved powerpoint presentation, it appears that LB bought Pensar in Appleton, Wisconsin for $45 million. This purchase was financed in December 2008 with debt without massive dilution. This company seems to have annual revenue of $50 million, is profitable with its operation located solely in the US. This would suggest that Pensar was purchased for just under 1x sales. How does this compare to the ATQ purchase and operations in San Jose? What about the recent financing that was done for the $1.5 million loan with the massive 18 million warrant dilution to RH?
https://www.labarge.com/downloads/8K_investpres_092209.pdf
If LB can be profitable in the US, there may be some useful practices to analyze because they do not have the advantage of the fx advantage that ATQ has had for these years.
I wonder what the board of ATQ is doing to create and enhance shareholder value, that is ALL shareholders not just the recipients of the $0.08 warrants? Is that not their fiduciary duty?