Hello all,
Before Thanksgiving, Mr. Van Putnem shared some information with me which includes a number of projections for the company. Obviously, none of this is based on anything which is audited, and for those of you who think that these data are not to be trusted, you are certainly entitled to that opinion. However, in my effort to look at things as objectively as possible, I'd like to throw this all out there, especially in view of the fact that it has been difficult to get anything concrete from the company. IMPORTANT NOTE: THIS WAS NOT PREPARED BY THE COMPANY!!! I do not know the actual source of these data. (sorry about the formatting)
Cabec Earnings Estimates: (thousands)
1996 1997 1998
Revenue:
Cooper 1096.3 1340.2 0
Cooper Royalties 0 0 306
Wyoming P&T 167.6 750 900
Total 1263.9 2090.2 1206
Expenses:
Cost of Sales
Wyoming P&T 72.3 412.5 468
Cooper 433.3 659 0
Gross Margin 758.2 1018.7 738
Other Expenses
Cooper 917.6 879.2 0
Wyoming P&T 50.1 236.6 243
Depreciation 0 45 48
Interest 0 116.3 0
Income (Loss) (209.4) (258.4) 495
Av. Shares 18.9 mil 31.0 mil 31.0 mil
EPS (0.01) (0.01) 0.02
My note: nothing in here for Fleur David. I don't know why, other than to say that they seem to be going very slow on this.
Plastic Pallet Productions Earnings Estimates
1998 1999 2000
Revenues
Sales 1440 4800 8160
Leases 7875 43875 92250
Total Rev. 9315 48675 100410
Cost of 8664 32130 55596
Goods Sold
Gross Margin 651 16545 44814
Depreciation 2240 3460 5140 &Overhead
Income (Loss) (1589) 13085 39674
Before Tax
Net Income (1589) 9061 25788
(Loss)
Av. Shares 131.9 131.9 131.9
(mil)
EPS (.01) 0.07 0.20
If you want to believe this, the most potential lies in the pallet company's future, which Cabec shareholders get one share of for each share of Cabec stock. Hope we don't see a selloff after December 12th, which is the record date to get PPP stock.
Remember, there is no dilution proposed for Cabec, which is good. I am told that the actual float is 8,000,000 shares. Also, I saw a balance sheet which shows Cooper assets at 3.2 mil., liabilities at 4.7 mil. As I have said before, I don't think we are that bad off for only getting the Cooper royalties. I know there will be questions on this, please ask the company, I know that some of you are having a hard time getting hold of Mr. Van Putnem, but I haven't had that problem and suggest you keep trying, and for that matter, try to get a hold of Ralph Curton, who should be willing to shed more light. If someone can get to the shareholders meeting (I didn't get a notice, but my stocks have lately been in transit), that would be really great.
I'm going back into lurker status now. I don't want to be considered a cheerleader for the company, because I am not. But I'm not down on the company either. Basically neutral. I guess I only wish I could have traded the stock a little smarter, but that is my own doing. I had hopes that this stock would see $1.00, that may be optimistic. The long term prospects of PPP, however, are good if they can meet their goals. I'm not the one on this thread who said the stock would go to $5.
I'm staying with this one to get the PPP shares, you know with these bulletin board stocks, who knows what will happen with PPP. It will be interesting to see what happens with Fleur David too. Good luck to all, and may peace be with all of you and may the holidays bring you and your families peace and joy and may the new year bring you all prosperity.
David |
