RE:RE:RE:Turn AroundThe situation with this company is so bizzare.
1. During the conference call, Mike said all cash is in interest bearing accounts making 4.5-5%. This translates to more than $2 mil in interest income. Their current div distribution is $3 mil. They can easily bump up the dividend just with the interest amount.
2. Just based on the call and the absence of any long term strategy, it is clear that the company is up for sale IMO. There probably will be a one time div distribution of the excess cash and then the rest of the assets will be divested sometime within the next 12 months or so. Lesson learnt, quality of management is far more important than fundamentals.