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NRG Generating U.S. (BB-NRGG) was O'Brien Enviro. Company out of bankruptcy, (one group had offered nothing to shareholders in Bankruptcy, this other group came in gave $.44 a share distibution and left remaining 45% or so shares with former shareholders, including me (154 shares now)). Company owns/has interests in 2-3 co-generation plants in the NE and sells equipment. They just reported their first quarter out of bankruptcy results, per share profits were $.45 including a one time gain but still over $.25 without that gain. Company also has 1/3 interest in another co-generation plant being built. I recall that winter months are the bigger profit periods (ie. next two periods). The 10q was filed on 11/14/96 check SEC edgar site (www.sec.gov). I had been watching this stock go from $2 to $4 but could not value it because it had no post bankruptcy financials available until now. Well volume spiked to over 40,000 shares today which is very unusual. I know they will be applying to go back on NASDAQ/NMS maybe that was it. If I am reading the financials correctly they have a negative Net Worth, but most of debt is owed to parent or guaranteed by parent. Am I missing something? I purchased 100 shares today based on the earnings and I knew O'Brien's cogeneration plants were good. |
