STR’s Chairman, President and Chief Executive Officer, Robert S. Yorgensen commented, “This tax refund is material to the Company, bringing our cash balance, including $1.3 million of negotiable bank acceptance notes, to approximately $15.0 million, as of today.” Mr. Yorgensen continued, “Our current unaudited stockholders’ equity is over $40 million, or about $2.18 per share, with approximately $0.82 per share in cash and negotiable bank acceptance notes.”
“Having these funds available,” continued Mr. Yorgensen, “is an important development for the Company and significantly bolsters our liquidity.”
With the estimated $8M coming from the sale of the Malaysia plant STRI wil have about $23M in cash and no debt.
This is from a recent news regarding the Malaysia plant:
We've also engaged advisers to sell the Malaysia facility and its equipment. As a result of those actions, we expect to be able to convert approximately $8 million of PP&E value back to cash, less $1 million to $1.5 million in associated non-recurring costs. On a going-forward basis, we expect to generate approximately $2.4 million of annual pre-tax savings. The closure of this facility should improve utilization in our encapsulant business allowing us to operate our China facility more efficiently.
Yo do the Math, STRI should easily be trading well North of $1 per share