Just as a reminder to any newcomers to WOOD who might not be up to speed on this recently announced land sale.
What we are talking about is :
1.WOOD currently has cash assets of $47,186.
2.WOOD currently has total assets of $37,906,334.
3.WOOD announced on 1/22 that it would generate an estimated $96,000,000 in new cash by selling 3/4 of its land in Brazil. This land is considered "non-critcal" to future operations.
So,in summary, we are talking about a stock selling @.15 that will increase its cash by a factor of over 2000 and increase its assets by a factor of over 2.75.
TO RESTATE, it is an increase in cash from $47,186 to $96,047,186 and total assets from $37,906,334 to $105,933,940. (currently only carries land value on books at $27,972,3944.)
In summary, I admit I am baffled that the market hasn't driven this stock to at least .50 on the news. The only thing I can surmise is that the market doesn't believe the sale estimate and only concrete evidence will change that. Anybody have thoughts? |
