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Strategies & Market Trends : Value Investing

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To: Allen Furlan who wrote (12055)	2/17/2001 11:16:14 AM
From: TimbaBear	Read Replies (1) of 78731

Alan.... Regarding CLHB....I come up with a negative NetNet valuation of -$1.67/share. Are you at all familiar with the management of this company? Here's why I ask. Their current liabilities are running about twice current assets: Current Net Assets are about $45.83M and their current liabilities are about $92.46M. The Long Term debt is not that high at about $18.13M. They are CFO and FCF positive, so if they capitalized about $50M of the Current Liabilities, they might be able to work through this problem. The questions are:"Is management astute enough to do this?"(For, if they are, why are they in this position now?) and is there a process available to them?(credit facility, and/or stock offering). If I were a competitor of theirs, I'd seriously consider coming in and buying them for their market cap plus net debt. But without good management, they could just be forced into bankruptcy instead. Timba

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