Well Serge, I think this is a good deal in the long run. The reason I say this is the Accugraph hasn't turned a profit in a long time, no new large contracts signed and as you know the share price was going no where but south. If they didn't manage to spring any new large contracts down the road I'm sure they would be out issuing share to raise money or borrowing money down the road.
I just did a quick check on Architel and noticed these interesting facts.
architel.com
Total revenues for the quarter, excluding investment income of $487,000, were $9.3 million, an increase of 30% over revenues in the same quarter last year, but down from revenues of $9.9 million in the fourth quarter of fiscal 1997. Net income for the quarter was $1.5 million, an increase of 41% over net income in the same quarter in the previous year and 29% higher than net income in the fourth quarter of fiscal 1997. On a fully diluted basis, earnings per share of $0.11 represents an increase from earnings per share of $0.08 in the first quarter of the previous year and $0.09 in the fourth quarter of fiscal 1997.
During the quarter ended December 31, 1997, the Company generated $2.0 million of cash from operations, excluding changes in non-cash working capital items, and at December 31, 1997 held cash and negotiable securities of $36 million. Also at December 31, 1997, the Company had working capital of $38 million, no long-term debt and 12,589,644 shares and 1,401,500 options outstanding.
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JMHO
Mike |
