This company operates as holding company in the waste management business. They originally came public though the purchase of a shell back in July/1995. Their business was tire recycling however that didn't go too well and ran in some legal problems with their management. In an effort to restructure and rebuild the firm, several of the company's largest shareholder groups took over the company, fired the board of directors and senior management, hired a consulting outfit to guide them threw the process of new management selection, board member selection, acquisitions and NASDAQ listing preparation. In June they hired a new CEO that has experience in turnarounds and building companies from scratch and currently, they are negotiating the purchase of an Ohio based "waste-to-energy" plant that should add $60M in assets to VIKG. The purchase is to be done with some debt and othernon-dilutive ways. With only 7M shares outstanding, that purchase should increase book value to at least $6/share.
ANYBODY ELSE KNOW ANYTHING ABOUT VIKG AND WOULD CARE TO HELP ME START THIS NEW THREAD FOR VIKG? I THINK THEY DESERVE IT! |
