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Optibase Ltd. (OBAS) Message Board

  • ding_king2000 ding_king2000 Oct 5, 2013 12:16 PM Flag

    Rippleturn, what you are missing is this company has $129 MILLION in debt, vs. a $23 market cap. It is considered a shell company at our


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    • The value of its real estate holdings are greater than the debt, and most of that real estate was bought at the right time - when the market was low after 2008 and so the fmv/appreciation is not even showing on the books. Yes, the company is leveraged but its assets carrying value makes the shareholder equity value at least 3 times and probably 4 to 5 times its market cap, and again those values do not reflect fmv/appreciation of its real estate book. In other words if it sold all of its real estate today it would have net cash of over $80 million and no debt..

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