Whats the worst that could ha-ppen if they don't get the LOC. If they don't get it they still have other sources of income don't they? this company can't go broke, if anything wouldn't they just call it quits and liquidate. Hell that would give us around 20 per share IMO
Yes, I agree, JAD, I look at this more from an investor�s point of view (turnaround). It�s the crash that may bring the rewards, if there�s a new management that can right the boat. Of course there were big problems. Otherwise the stock wouldn�t have been selling at 40 odd cents!
He's a lying sack.
First of all, US insurance companies CAN go bankrupt. Assets are only seized in cases where the state boards deem it necessary to protect policy holders.
Second, TWK isn't a US-based company anyway.
I've been in the Ins business for 25 yrs. I watching ins. customers bail out of Ins Corp of NY every day.
Every Credit rating agency is down grading on a daily basis, look at news!
Today, it was Moodys downgrade, and they specifically state: "...uncertainties surrounding the valuation of intangibles, the adequacy of LOSS RESERVES."
your worst case scenario sound like my best case scenario.... I would love to get a nice liquidation cut.... Unfortunately they would would run value down to negatives trying to salvage the company if things don't work out and continue to falter.... that is worst case scenario.... a 3 year slide down to death....
But to answer your question yes they have other backers in other areas and other sources of income. Check their web site... I dont want to throw out numbers without citing them, but from what I recall Lloyd's aint as much as the PR's and the naysayers here might suggest.
first off thank you for your answers. The liquidation was not my worst case scenario but Just thought that would be what would happen. From what I've learned that if a stock trades below liquidation value fopr a long time it should be liquidated. Of coures we have only been at these levels for a short [period of time but if this maintains current price wouldn't that be the case....and to all the shorts: You guys have bigger balls then all of us longs just for the simple fact of the value here. I would not bet against a company that is already trading below the amount of cash on hand! Even if they don't get the LOC (which I believe they will) I will still hold this stock. even if it goes to .01. You can call me crazy if you like but I have value to back me up. even not knowing how to value a business you can clearly see that this is undervalued.....You can tell a fat man is fat without knowing his weight can't you?