Post by
Barkis on May 16, 2022 10:38pm
Right Product - Right Time
BRYs market cap is about $12M
They just reported $3M in Edita for the past quarter - $1.6M in net earnings.
They also recognized a large tax asset for the quarter due to improving fortunes of the business.
The bank debt looks very managble now - up a bit to $19M in order to build up inventory to $19M
Account Receivable high $23M but they should easily collect in this high priced energy market.
This stock used to over $3 about 10 years ago. I do not think they diluted thier share much or at all since then. Only 23 million shares or so outstanding.
Added Bonus - $50M or so in previous non-capital tax losses means they will be paying no tax on the next few quarters earnings.
As of Dec 31,2021
The Company has Canadian non-capital losses of $23,973,810 (2020 - $22,633,867) which expire between 2032 and 2041. The Company has US non-capital losses of $15,402,633 (2020 - $15,741,177) available to reduce future taxable income for which no deferred assets have been recognized, with $6,879,421 expiring between 2035 and 2037 and $8,523,212 which have an indefinite life.
Comment by
jacek99 on May 16, 2022 11:03pm
It feels like a market cap of $12 million doesn't cut it with quarterly earnings like this and expected elevated oil patch activity. What are your thoughts on a more appropriate share price that better reflect that present value of the company?
Comment by
Barkis on May 17, 2022 8:02am
This company is good at walking the high wire. They seems to able to do what it takes to survive in any environment. I would say it works i it's way to a buck over next few weeks/months. If some globalist nutjobs weren't intent on either remaking the world in their own image or blowing it up I would say $2 in a year (all else being equal).