I may be remembering this incorrectly, and I may have ran the numbers incorrectly, but my recollection of the new structure, assuming it is approved, is that FFO should decrease slightly from $1.22 to around $1.16 due to the increased interest costs and the one time extension fee. I thought the one time non-cash charges were going to be more like $3 per share taking book value down to the $7-$7.50 range. You may have better numbers. Would you mind rechecking & clarifing your numbers?
Here's my theory on share price. Concerning the discussion about share price, I think until the a dividend in the $.80 to $1.00 range can be reestablished, the stock price may not reflect value and may have substantial swings.ETT is such a small company, there are very few shareholders, and there may not be many willing sellers at any point in time. 3 shareholders own more than 20% of the stock. Several of us, no telling how many, own more than 1%. Some of us are committed to either riding the stock all the way up, or all the way down, believing the potential reward is greater than the potential risk. Also, there are not alot of buyers. Since GHV's BK, I'm not aware of any analyst that has been following it or any brokerage firm that is recommending it. Therefore, for the short term, until something major happens at GHV, I think share price will be driven by a very small market, which will have little to do with value. After the first of the year I do intend to start following the GHV BK again. I'm still curious if anyone has followed the GHV BK enough to get a feel for its timing and how GHV is doing.