Post by
CaptainBigDaddy on Jan 08, 2021 11:55am
Sorry my posts seemed to have triggered a bunch of spam
Some robot must look at the posting frequency to decide to deliver a bunch of advertising spam. Sorry I seem to have triggered this.
I looking over the financials again, it seems from the statements made in the last report that the $54 million going from Coreby to Pernod is something that is "to be paid" prior to July 1, 2021. So at least as of September 30, 2020 - when the last statements were published - it had not yet been paid and Corby was siting on $79 million cash at that time.
It is still unclear to me how this is supposed to work. Corby pays $54 million to Pernod - and then Pernod pays commissions each year to Corby - but $10 million per year of those gross commikssions are a return of capital to Corby each year (the $54 millionn is amortized over 5 years at $10 million per year) so Corby only reports as income the amounts received back from pernod over the $10 million annual floor amortization of the $54 million.
Follow the pea in the Shell. Bottom line is that Pernod gets $54 millikoin cash upfront sometime in the next few months.,
Thus I expect a buyout offer (especially if Wiser sales contionue to grow) in the late Fall of this year..
My crystal ball. In the meantime -- keep on drinking - and as the Countrty and Western music crowd knows from the great poetry of the music (think Ray Wiley Hubbard, John Prine, etc.) beer ain't drinkin.