AKITA Drilling Ltd T.AKT.A

Re: income tax assets greater than the value of the SP

[lifeisgood1010]

Yes you have it right, if you go and read my posts, i wrote it and it's directly from Akita's financial
statement.

There is only one problem, this company as a dual structure stock.So as long as the 
Southern family (Sentgraf) don't want to sell,then there can't be a takeover.

Akita's first goal is to bring down the debt level to $50m, then there is a strong
possibility that they initiate a SIB.

This will not happen before early 2025.

That is why i say that Akita is a real bargain at these prices but it will take a few months
before we see it moving.

Akita as been profitable in a very slow market in 2023.Right now gas price is 
very low.Even with that, they have 8 rigs out of 20 drilling in Canada working and 10 out of 15
in the USA.

At one point in time, E&P will have to drill because of depletion.

The company is profitable even in a slow market and it's assets are worth many multiple
of the SP.

Like always in the stock market, it's a matter of time.

For those who have an horizon of more then 3 months, this is the time to buy.
For the day traders wanting instant gratification,this is not for you.Especially given the low float.

But make no mistake,actual buyers will in my mind double if not triple their
investment over 12 to 24 months.

I have 78,900 shares and my intention is to bring that up to 100,000

Good luck with your investments.

[Hockeyz]

Yes, it looks like the Sentgraf/Southern family owns 16% of Akita. Back when the share price was $20, it would have taken almost $700 million more for the Southern family to buy the rest of Akita. Therefore, they have a special group of voting shares that they hold.  But right now it would only cost them $73 million to buy the rest of Akita, even at a 50% premium to the current share price