New owner...not reallyI have owned and followed this company for a long time. I also have not posted on here in years as i have better things to do.
Currently have a substantial ownership and really no desire to sell at the current offered price. We are looking at roughly book value folks. To me that is not a premium at all. For a company with positive cash flow, and set to significantly increase that cash flow (and hopefully earnings) I have no idea why anyone would sell for book value.
I have followed the posts here for a long time and I have a significantly larger % of shares than most on this board. Some have stated they are holding 25k shares. I have been buying that amount on a regular basis over the past year (bought 40k shares last week at 1.72). Yes, i sold a few shares yesterday as I am a Canadian and somewhat concerned about some rumored tax law changes in a coming federal budget. However, i continue to sit on more than .1% of the company and will hold and see if we can get better value. If we dont, i will take the current gain and drive on.
I look to the fact that Ithaca is now trading around book value with plenty of upside and good cash flow. If someone has another investment trading below book value and positive cash flow with growth potential i am happy to sell and move to another stock.
Thanks for any comments