I guess we will see what Tony really thinks those licenses are worth now that he is interested in buying them. Ii seems he used to consider them a sizeable hidden asset. Does not pass the smell test with me though!
This is an outrage. Vicon , I recollect used to do this with Darby as well. When they sniff an imminent revenue rise, they put an 'extra' reward program in place, for doing the job they get paid for in the first place.How about an 'unreward program' at the same time, which says if they don't meet a specified increase, they give their salary back. That would put an end to this garbage.
CC suggested there were more than one party who had been approached to consider purchasing the remainder of AG&E, and a couple of weeks was mentioned, but not suggested as a solid time frame. Well, we are way beyond a couple of weeks, and still dead silence.
I show it trades ex dividend tomorrow. GL2most
Reading the 10Q shows cash indicated at $8,581 million, and Accts. Receivable of $3,391 million, close enough to $11,972 million in liquidity upon collection of remaining A/R, which I recollect managament indicating should be collected in the near term. Company did indicate some interest in the remaining ongoing business, so it should be expected to be worth more than Zero. My thought is, just how much are those casino licenses worth, if any. The AGE servicing portion of the business supposedly can support itself, however, not the costs of being a public company.
---4th I believe was record date, means kinda nothing too me. I saw on one site where the payment date is Sept. 15, and ex date Sept16. Since tthis is a return of capital, instead of a cash 'dividend', there could possibly be a difference in how the payment and ex date are treated. Consider checking with your brokerage for more accurate details.
Looks like after they pay out the $.45, they will have about the same amount in liquid assets, plus the remaining AGE company. Do the casino licenses really have value to a prospective purchaser? Is the AGE portion of the business really of any value? Although in theory, the stock price should drop by the amount of the distribution, the remaining share value, IMO, should reflect north of the liquid assets, considering the company is capable of sustaining itself to a prospective purchaser, not including any costs of being a public company. GL2most.
Book could be as high as $1.215, with 9 mos. earnings of $.09 added to yr end 2014 provided book value of $1.125, and the short version update in the financials section has now been provided.
Revenues continue to climb, but quarterly profits did not seem to keep up. Although I did see their news post on their website, the financial section did not appear to have been updated. Even if it was, the stats are bare bones when provided. Audited 10K's type information has been removed. In any event, this company chooses to post very little dialogue on the continuing operations of the company, and certainly did not appear to wish to publish the reason(s) for the slide in earnings while increasing sales. Stock price has waned recently, in light of the increasing book value, which I guestimate at above $1.05. Too me, the attitude has become- minority shareholders have no reason to have anything divulged to them, they should feel lucky with the morsels they are given. This did not seem to be the current presidents mantra when taking over the operations, but, has since morphed into this mode, even though reporting has become a tad more regular relating to timing.. We all know who really runs this company, so, my take is that the marching orders are being given by Mr. Estes. BTW, the audited financials are a requirement of their bank credit line, but the reason for not divulging them to the public shareholders mystifies me. Maybe Harold does not want to see how much his loan to the company is finally being paid down, as well as a view of all the subsidiaries they have created.
Well, the reason I posted the way I did was beause on the conference call that is what I recollect Tony said. He mentioned that WGA accountants had to analyze just how much the company could pay out that way based on recent financials. Absolute confirmation should be verified with the company.