RE: And what if the Penn Regulators win their caseThe best legal opinion is that Kingsway has met, and will meet, its regulatory and contractual obligations in respect of Lincoln.
A large suite of precedent law is on its side , so the outcome should be as legally due.
Income from the US operations in q3 was nearly $9 million , and continuing cost cutting should improve that going forward.
From this perspective, operating earnings of continuing operations could well hit $1/share in 2010.
Of course there is risk.
But, at least 5 times upside from here.