Z C L Composites Inc ZCLCF

RE:RE:RE:RE:Back In

[McRambus]

McRambus wrote:

Philbert77 wrote: you make a good point. But at least they are not blowing the money on an ill advised acquisition. And the buybacks are not that foolish, its just that hindsight is 20/20. The only concerning part is the small amount of cash left in the till. But over all I am pretty please with how they have operated.

Let's see, to start 2017 this company had over $43 million in cash. Just over a year later they have zero in cash because they have drained the coffers totally dry paying out dividends and buying back shares at inflated prices. This certainly makes them a less attractive buyout. Pembrooke Asset owns over 10%, seems they made out quite well the last 15 months with all the payouts. Someone needs to ask management what the hell they're thinking and what the future looks like cause as a shareholder I don't want a 40 cent dividend if it means having no cushion. Draining the coffers like this makes little sense to me.

My post way back in May has come to fruition. We now have zero cash on hand, only receivables and using up credit line for day to day operations, The payout is now over 100%, dividends are larger than net income with no money in the bank. Without question the dividend will be cut next quarter. Took my last special dividend end of May and bailed. I wish remaing holders good luck.