Any critics of TCHC's value should simply look at the cash per share. The rest of the assets and liabilities net for the most part. This means they have 7-8 per share in straight cash. This stock should be valued accordingly within the next 6 months. If it is not then that fault will rest directly on the executive management.
aaaah. Keep mining that TCHC fool's gold. When I bought TCHC at $4 a share, TCHC had similar cash on hand/book value, a superb trailing PE ratio with promises of management that the profits were about to improve and an 18% divident (again with management promises that dividend would continue explaining the dividend was the alternative to a stock buyback). Today's the dividend has been cut and PE is down. The last12 months that extra cash did not affect stock price. What makes you think it will over the next 12 months. Management. bwahahahaha
The $7-8 dollars per share doesn't mean much if you're not making money while handing out dividends. If they had actually purchased back shares over the last six months with the dividend payments, the cash per share would have actually increased, the company would be defending the share price, and shareholders would be better off. The BOD has already had a year to get a handle on strategic and operational issues. I haven't seen or heard anything to tell me they know what they're doing yet. Last earnings call said that problems would continue into the future. If you haven't already, go to seekingalpha.com and read the last few conference call transcripts.
The real question is whether the BOD has the intestinal fortitude to admit their mistakes and sell this company. That's the only way you'll get your $7-8 right now. Just my opinion.
I agree with everything you mentioned other than the bleeding of cash through dividend payments comment. They have $481k in dividend disbursements per Q. Its not a significant bleed of cash.
I cannot agree more in comments on the ineptitude of the executive management. The board should have had their heads long ago for their inability to attract the large investment funds. The only thing unattractive about them is their management.
I say strong buy...Great Book value and a good divy!