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Euroseas, Ltd. Message Board

  • trafukindht trafukindht Apr 8, 2013 1:53 PM Flag

    question for audio

    I did your calculation regarding the value of the fleet. I took dwt (595,063) and I divided it by 4. the result was 148765 which I multiplied by 425 = 63 million.

    If your thinking is correct, this stock is worth at least 1.50 just on the value of the vessels alone. it seems to be a steal.

    any reasons not to like this stock, audio?

    thanks

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hello. In order to make the calculation one would have to add the cash on hand as well as other current assets, add also the value of the Euromar venture (this is the part that is a bit tricky since those are recent vessels that can not be considered as potential scrap candidates) and then one would take out the total debt of the company.

      Depending on the value of the ton of scrap and the value of Euromar, the liquidation value of the company oscillates between 1.3 and as much as 1.70.

      In any case, this is not a dying company and such a liquidation will not take place. This is just a calculation that may help a new investor assessing the value of the company.

      Regards,

      Juan Carlos Camacho.

 
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