Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: John Somerville who wrote (669)	10/9/1997 10:21:00 AM
From: Arthur Tang	of 1911

Thank you, John. The revolving loans as of July quarter is down to $65.3 million from $161 million when they started limited upscaling. Trade credit works out fine. Much profit is now put in inventory as it should be for more and faster turn over. Weaver's long term debt is not spell out in the 10q; the way he had stated $41.4 million. I am, of course, concerned about that amount above and beyond the revolving loan. My question was what the revolving loan would be at the end of Oct 27th, 1997. Store closing reserves and lease liability problems cost to much. If they just run it at maximum profit AMES would bring $40 today. Also self insurance (employee litigations) at $32+ million is it reserved enough? In any case it should satisfy many stockholders that AMES is on the right course and will hit $66/share soon.

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