RE: Fundamentals What I didn't like, is if you look at their debt at Q2 vs Q3 the amount that was paid in dividends was the amount the credit line increased by.
So A/R went up....they dipped into their credit line to pay dividends... creepy business model. The AR is aroundd 50% of market cap on PSN... rolf
But if you look at Q2 towards Q3 the AR only went up a little bit, it was still relatively high. Investors didn't have a problem with it being high till the write-offs came into play.
Meh, either way im holding till the 6-7 level, as I feel fracking in 2013 will rebound with fresh new capEX. Winter/Fall is busy season for fracking tanks and their other revenue streams Q2 of 2013 sounds like a good exit point to me... if the SP is around 7ish