Read earning release:
"In addition," Converse continued, "the backlog has grown to $31.9 million and we believe it will continue to grow. Our decision to focus on our core competencies has proven to be the right decision as we continue to strengthen our relationships with large pharma and develop new relationships with biotechs. This year we were chosen to be the sole imaging provider for several of our customers and most recently we were awarded a phase III oncology trial from yet another large pharma company."
So 14.10 if you add together, if you adjust 1 for 6 reverse split, only 2.36 before stock split, so much talked about the increase stock holders value, Also, the stock was paying around 2.40 in dividend before the split. what a nightmare!
Their total fee income as around 3 million dollar this quarter, if you look at their historical CAD calculation, they aloways had around 5 million fee income in their CAD calculation.
I know, I do not want them to announce 5% stock dividend. This means nothing to me, I want a real stock dividend like 5 cents.
This quarter the big item for CAD was around 10 million origination fee and other defered item，and 7 million。CRE gain， in the third quarter， they sold 116 million loan for fee income of 0.4 million. I guess some question regarding their 10 million fee projection. They will only realize the fee when they sell the loan. any comments？
Carl Icahn bought this one, we would down big time if not for that. Earning missed by 50%.
The current valuation is much more then the other insurers, I bought AIG bcause of the value. I did not see any value here other then the book value.
Really could not see anything positive. I am out, good luck for everyone.