In order to fix the problems at BRY ...In order to fix the problems at Bri-Chem and return it to some of its former glory (with a much higher stock price as well), I think the following things MUST be done or achieved;
1. They need to somehow raise their trading and gross margins A LOT. Currently gross profits are only 7% (which is up from even lower previous levels) to the 20+ percent range. IF POSSIBLE??? If you can’t achieve these levels, you must question the whole existence and principals of this company.
2. If they are going to play this game (at this level and this size) they need more capital (double or triple their current market cap, at least) in order to be effective, and lower interest costs substantially. You can't pay four and one-half times your net profits in interest expense and expect to survive long term.
3. Also, they need to cut down on bad debts. Current BD level is 27% of their net profits, far to high. Plus, it was actually much higher in some previous years. They must have tighter controls.
4. You have to somehow get a much higher overall market share or at least a bigger niche product dominance in some area at a decent profit level, instead of trying to be a little bit of everything to all their customers, without sacrificing the previous points I list above.
If they could attain most of the things I state, it would lead to a much higher share price, long term business violability and growth for BRY. If they can't, the next downturn could crush them again. Thay have used a few of their nine cat lives already. How many are left???
All this my own opinion. Good luck to all shareholders, current and future.
Angles