Ken, PRRR is a tiny company. The market cap is less than $10 million and the float is under 3 million...so low volume is to be expected.
A few comments on PRRR that you are probably aware of. First, earnings are coming out soon....I think this week. PURR's expecting great results:
biz.yahoo.com
The issues pending at the time of their last 10q:
"The Company is currently negotiating with the Minnesota Department of Transportation for approximately $4.0 million of interest-free financing to rehabilitate the Minnesota Central Railroad. As of the date of this report negotiations are still in process with no certainty as to what the outcome will be.
The City of Rochelle, Illinois terminated the Rochelle Railroad Co.'s lease agreement effective January 19, 1998. The City is seeking to replace the Rochelle Railroad as operator of the line with one of the on-line customers. The Rochelle Railroad is seeking damages, seeking relief from the Surface Transportation Board, and is also seeking to condemn the property. The outcome of these actions is uncertain. If the Rochelle Railroad ceases operating the railroad, it would have a material adverse effect on the Company's results of operation. In 1997 the Rochelle Railroad Co. generated $408,000 in revenue and $250,000 of operating income. In the third quarter of 1998 the Rochelle Railroad Co. generated $76,000 in revenue and $19,000 of operating income. In the first nine months 1998 the Rochelle Railroad Co. generated $415,000 in revenue and $224,000 in operating income.
The Michigan Southern Railroad's lease expires in December 1998, and the Wabash & Western Railway Co., d/b/a Michigan Southern Railroad ("Wabash"), a wholly-owned subsidiary of Pioneer Railcorp, reached an agreement with Gordon D. Morris, Michigan Southern Railroad Co., Inc., and Morris Leasing, Ltd. ("Leasing"), the entities from which Wabash currently leases its rail lines, to acquire the stock of Michigan Southern Railroad Co., Inc. and the leased assets of Morris and Leasing for $2.4 million. The Company believes this transaction will close on January 1, 1999. The purchase will be funded with long-term debt. In 1997 the Michigan Southern Railroad generated $1 million in revenue and $326,000 of operating income. In the third quarter of 1998 the Michigan Southern Railroad generated $305,000 in revenue and $99,000 of operating income, and in the first nine months 1998 the Michigan Southern Railroad generated $874,000 of revenue and $290,000 of operating income."
If you look at recent news releases, the issues have been resolved favorably for PURR with the exception of the pending law suit in Illinois.
Amigo Sergio
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