LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:I'm out at $7.90

[patenright111]

cashflow statement doesn't like - $30M in 2015 is a FACT where did it go , well it all went to dividends. why did the stock drop in half, well partly because of deteriorating performance due to alberta, partly a realization that they were paying too high of a dividend in first place knowing they need extra money to expan and remodel and partly because it was tied with oil oil stocks and thus shorted down. 15 was too high, 6 too low but its fair value right now lies around 8-9 but again in 1-2 years time with expansion and improving alberta market as oil will very likely be at 50-60 next year, then the company will generate around 35M cashflow from operations less say 5-10M capx and you have 25-30M of cashflow to either pay dividends or pay down debt. If they pay down debt and keep div at .36 stock will rise. if they increase div back to say $0.8-$1 then stock will be around $10-12 using a 8% yield