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EXCEL MARITIME CARR Message Board

  • cvdpro cvdpro Feb 13, 2007 9:32 PM Flag

    My take for the blank check

    Company, if you looked at the report EXM from last quarter,

    they have 190 million long team debt with about 80 million cash on hand, about 30 million short team debt, they would generate about 20 million cash this quarter. I think the intention is sell several ship to the new company and then lease back the ship from the company, they can effectively eliminated the debt. They will generate EBIDT over 80 million this year, in other words over $4/share, by eliminating the debt, they could pay around 15 million lease payment to the new company, they would still have over $3/share cash flow, they could use it to pay the divident, at the same time, sharehold for the new company also would get over 10% divident payment, that would really a win win for both company.

    Any thought? I bought another 3,000 shares today and will buy it on the way up.

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