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Microcap & Penny Stocks : Emerging from Chapter 11 -- Ignore unavailable to you. Want to Upgrade?

To: Paul Lee who wrote (12)	7/12/2002 9:41:43 PM
From: Crossy	Respond to of 19

re: IPSU.OB (Imperial Sugar) @ $2.50 Hi Paul, saw you posting this on the IHK / IPSU thread, too. Fit's here also.. IPSU.OB (Imperial Sugar) emerged from bankruptcy last year, which eliminated more than $200m in debt. Now IPSU.OB is trading again on the OTC/BB for around $2.40. Company's price/book value is just 0.25 and PSR ratio (price/sales) is 0.08. Anyway this value looks good and I didn't find meaningful goodwill on the balance sheet. The firm is reportedly planning to sell of assets in order to deleverage its balance sheet further. Sales and cashflow from operations have up to now managed to get down its indebtedness from $225m after re-emergence from Ch11 to $165m now. More to come. Definitely not without risk but at the current level I didn't want to let it pass.. rgrds CROSSY