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Non-Tech : Secret Squirrels hit! -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (2100)11/5/1998 7:56:00 AM
From: Wayne Rumball  Respond to of 12872
 
Was pretty busy running a business yesterday, didn't have time to post the analysis on CMND, here it is;
Cash+receivable-Liabilities=22.5 million in cash or 2.94/share

Cannot evaluate the investment of 6,845,000 in Offshore Technology Resource, which was it's book value when they bought an interest. However, OTR is tax exempt for 5 years of the next 8. Because these earnings have not been repatriated as yet the company says they have not recorded deferred income taxes of US$429,000. Sounding like OTR has a ton of cash. Also report net income for OTR ending Dec 1997 at $920,408 and 491,836 for 1996. Sounds like their making their money work for them tax free.

Preferred stocks are gone, they'll save 260K in dividends and another 298K in related expenses that were written off last 1/4

EDIT Woops, looking at the wrong 10Q. Cash as of Sept 30 was 3.32/share. Appears they reduced SOS to 6,763,000



To: Wayne Rumball who wrote (2100)11/5/1998 8:16:00 AM
From: Wayne Rumball  Respond to of 12872
 
BIR - nothing spectacular here. enough money coming in to cover what's going out. Plant and equipment has depreciated 22.5%.

So if someone had it in their mind to put up a similar operation, they could pay 978 million to do it, or take over this company paying the equivalent of 147 million.

Think I can get $10 out of this one easy, may have to be one of those long thingies though


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