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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (12539)	3/13/2001 11:11:05 AM
From: Crossy	Read Replies (2) of 30051

Zeev, one company that I've been holding for a long time now finally seems to be getting an incredible play: MOYC(E). They missed the filing deadline for the last 10-Q by 3 hourse. Had to add the "E" and by tomorrow will be MOYC again.. biz.yahoo.com This spring they are selling one of their dental subsidiary. Will be paying off all their debt plus distributing at least $1.35 per share. MOYC is now at $2.50. The remaining division (precision polishing) is around $11m annual sales now. The ramaining part made $0.05 earnings per quarter but that included the payment of interest (which would not be present after their transaction). Right now interest payments are around $0.02 per quarter. Long term debt is $5m. There are 5m shares out. They will get $17m from the sale of dental biz. Payout will be around $1.35 per share, amounting to something like $8m being distributed. That still leaves about $4m to be added to cash on hand (right now $2.8m). That means after all the transactions the cash per share (post sale) should be around $1.4. Add the payout of $1.35 and you get $2.75. Right now MOYC is trading for $2.5. I deduct from this that what will be left is finally trading below cash value plus generating around 0.07 per quarter - even without growh (0.28 per year) To me this looks like a steal.. rgrds CROSSY

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