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坦迪時裝配飾公司 Message Board

  • nmoil nmoil Oct 22, 2013 9:48 AM Flag

    What is TBAC actually worth??

    Lets assume one thing: they have no issue retaining walmart, where half of their sales (belts-wallets) originate, that stable sales are $100M + (see 114 in yahoo key stats). And that cleaned up to anythjing resonable thats good for $5M annual cash flow (some might argue $10M).

    Anyhow, on $5M CF, worth 10% (safe i rates are 1% or less), then $5M stable CF worth $50M.

    Lets assume debt of $20M (assume, visible # is about $9M I think). But assume $20M, that leaves equity $30M. Split 7M ways (shares). Before all the red flags (liquidity, going concerns, CEO quits, etc) we were $1.50+??

    Sentiment: Hold

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    • Interesting, Thanks, I really don't have a clue to what it's worth but my gut tells be it's worth a lot more then what it is selling for now. I've been buying companies for years that are desperate. The thing that confounds me is the poor directors. They should have gotten rid of that CEO long ago.

      Are you buying at these levels. The chart could be a double bottom at around .40 cents. Weather you buy at 20 40 or 60 it will be trivial in a few years. imo you will either win big or lose big.

      • 2 Replies to jtmaimi
      • jt, be sure to google "yoakum's tandy brands closing"

      • I've bought at these levels and I'm prepared to double my position if (when?) the tax-loss sellers kick in. That really can be right up to Dec31. I know what to worry about here: Salus. And making sure the company remains functional, shipping product. Nothing at Walmart suggests otherwise (take a look when you get a chance, and please report what you see). In the good ol' USA we have something of a good-old-boy Directors Class: I'm on your board, you're on my board, we'll play polo and tennis together on the weekends and take care of each other. No, cynicism is not always the right answer, but sometimes it's the perfect answer. Rod will do just fine. Not so sure about the 200 folks / families in Yoakum who lost their jobs.

    • Looking at the 5 year chart, pretty much EVERY share held now is a capital loss for the holder (certainly true for me). So the potential to monetize that (as a tax benefit) is clearly there, for most every share out. Somebody is willing to buy (me included) but there should be tax sell weakness into 12-31-2013 and then hopefully "january effect" visible.