RE: RE: FIRECRACKER USSIF UPDATE
here's Firecrackers latest post
from Yahoo.com USSIF Board
Looking at the balance sheet 4-Sep-11 09:58 am
Dramatic changes will be happening to the USSIF balance sheet between now and yearend. Right now USSIF has a book value of $75M. By yearend this book value will increase to about $108M IMHO. USSIF currently has current assets of $40M and current liabilities of $8 or working capital of $32M. By year end they should have current assets of $68M and current liabilities of $8M or working capital of $60M. That means that USSIF will have working capital of .20 per share. USSIF will be taking a special gain of $11.5M at yearend to use the last of it's taxloss carryforwards. The $4.1M they just received for warrants will also be added to assets and to cash. The market simply has not caught on to what has happened to USSIF in 2011. They went from a breakeven company stryggling to survive to a cash cow that is spiting out huge profits and turning into a big time silver company.