Imperial Sugar (IPSU) Message Board

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Non-Tech : Imperial Sugar (IPSU)

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To: Patentlawmeister who wrote (23)	12/3/2002 11:07:07 AM
From: Crossy	Read Replies (1) of 121

Cudawuda, AMEX minimum bidprice requirement is $3, NasdaqNM is $5 but in a prolongued time-span. Minimum net tangible asset criteriae should be easily met with in both cases... Just a matter of months.. Numbers for september quarter will come in the 10K, due end of December at latest. Sorry you didn't benefit from this. I know it was speculative (being a reorg company) yesterday. Today with elimination of all longterm debt, this is an easy call. My take: anything below $5 is outright a steal. Don't forget that only 1 location's assets (and some brands were sold). Since they were approached (I called the PR contact) I suppose Price/Sales of this DCB was at least 0.50. Means sales of DCB not more than $230m. If they sold some brands (brand equity is off-balance !) or did realize some gains above book value then book value should rise even more. My take : around $1-2 in book value were added by this per share, don't forget that $115m are $11.5 cash per share.. best rgrds CROSSY

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