To: J.R. who wrote (1277 ) 12/23/1997 9:30:00 AM From: Brad Read Replies (3) | Respond to of 6654
Hi J.R.! We don't know a lot about WOTD yet, but we do know this... (From the Dec 16 Press Release) "We expect this merger will come out of the gate profitable as the merging distribution company brings no liabilities to our balance sheet." 1. No Liabilities 2. "will come out of the gate profitable" 3. Tri-lateral Letter of Intent (proposed agreement between 3 parties) 4. The 3rd party has $3.5 Million with 10-15% profits. 5. They can't tell us more yet because of Non-Disclosure Agreements. Non-Disclosure Agreements are a standard part of things like this until the private companies are ready to let their information be known publicly. And that's a big step for a private company. But for us shareholders, it tests our patience. I have to admit, I am anxious to know as well. From all appearances (at least in my opinion), it looks like WOTD is probably a new company with a clean balance sheet. I suspect the "tangible assets" are mainly going to be in the tire company acquisitions. But the "intangible assets" that I think are equally important are the people leading our NEW CVIA/WOTD company. I am quite interested in finding out more about the talent base on the proposed Board of Directors of the merged entity. With the right people, the company can get whatever funding they need, they can develop the organization properly, they can manage effectively and, in short, accomplish the $200 Million sales levels. And THAT's of interest to me. I'm interested in "the people" that can take us there. At the rate things appear to be moving, I think many (if not all) of the pieces to this puzzle should be in place sometime during January. I would be pleased with that. At 4 cents, this is the information we have. At 6-10 cents, we'll probably know more. At 15-25 cents, I'm sure we'll have a much clearer picture. I guess that's what "risk" is all about. At this level, in my opinion, it's "what kind of people do we have at the top?" These are just MY thoughts and opinions. Everyone should make your own decisions about what is best for them. Best wishes, Brad