I can see why VALH is a hold for a year or two. They're getting rid of a big chink of debt this year and next too...
From 10Q:
CURRENT LIABILITIES
Accounts payable $ 2,182,258
Accrued liabilities, other 462,023
*Note payable bank and others 8,131,260 *
Note payable stockholders 460,666
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TOTAL CURRENT LIABILITIES 11,236,207
Annual maturities of long-term debt at April 30, 1999 for each
of the succeeding five years are summarized as follows: Year Ending April 30:
2000 $ 8,591,926 *
2001 604,157
2002 472,964
2003 136,332
2004 and after 181,777 |
