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CCA Industries Inc V.CAW.P


Primary Symbol: CAWW

Consumer Defensive Household & Personal Products
CCA Industries, Inc. manufactures and distributes health and beauty aid products. The Company conducts business as Core Care America. The Company offers skin care, oral care, brain health supplements, and beauty products sold in mass markets, chain drug, food and online through amazon.com and walmart.com. The Company’s products include Plus White toothpastes and teeth whiteners, Bikini Zone medicated topical and shave gels, Nutra Nail nail care treatments, Porcelana skin care products, Scar Zone scar treatment products, Sudden Change anti-aging skin care products, Hair Off depilatory products, Solar Sense sun care products and Neutein brain health supplements. Its other products include Bikini Zone Creme Hair Remover, Bikini Zone Exfoliating Gel, Hair Off Hair Removal Mitten, Hair Off Facial Wax Strips, Lobe Miracle Ear Lobe Support Patches, Nutra Nail Bullet-Proof Strength, Nutra Nail Speed Dry Topcoat, Sudden Change Green Tea Facial Mask, and Sudden Change Beauty Box, among others.


OTCPK:CAWW - Post by User

CCA Industries Inc > Well then....
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Comment by Intotheblueon Feb 17, 2019 7:20pm
123 Views
Post# 29377789

RE:RE:RE:RE:RE:RE:RE:RE:RE:Well then....

RE:RE:RE:RE:RE:RE:RE:RE:RE:Well then....You cant just eliminate a remaining 35M contract from assets, and say they are upside down. The big material Assets/Liabilities are:

Assets:
AR - 37M
Contract - 35M
property - 21M

Liabilities
AP - 12M
CD - 5M
Revolver - 31M
LTD - 27M

The company has an approx EBITDA of 9M, and 3M in Interest Expense. 3X coverage, am I missing something here? The current valuation looks like absolute lunacy. 

Looks like some troubles with RBC with the revolver reverting to 30M from 35M on March 31, and lending covenant relief on the leverage ratio until March 31. Cash balance too low and AR balance way too high. This is a solid company that has the ability to raise some equity or refinance out RBC if needed. Not sure what level of restating is going on, but this selloff looks completely overblown. 


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