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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?


To: Art M who wrote (3274)2/4/2003 1:55:55 PM
From: Crossy  Respond to of 37387
 
Art,
since IPSU 10K is out since Dec 31st (on SEC EDGAR) it'S rather old news. Let me rehash:

would advise you read the "management report" section and especially those parts of the document touching:

1) the refinancing - new revolver + term note, buying back entire old debt & even securitized A/R
2) asset deal with Hormel (think under "subsequent events")
3) future business "orientation"
4) refinery margin trends

there was even a more important document containing pro-forma figures post acquisition available on EDGAR. From that I calculated current book value of $16 per share

rgrds
CROSSY

Message 18388104



To: Art M who wrote (3274)2/14/2003 5:59:06 PM
From: Crossy  Read Replies (1) | Respond to of 37387
 
IPSU - 10Q for 2003-Q1 released today..

Very good news. My analysis : Message 18582968

company is now at breakeven on a net income basis (including interest payments). Now I'm eagerly waiting for the company to move to a real exchange. Another institutional shareholder already moved in - Metlife - above 5%. Saw their holding yesterday..

best rgrds
CROSSY