Can you believe that.
live and learn.
"On April 30, 2014, we exercised the Put option and sold all of our ownership interest in the O-P for gross proceeds of $50 million, which resulted in a gain on the sale of $49.8 million. We will not receive any income from the O-P after April 30, 2014."
The quote above was taken straight from the 2014 10K. I presume this is what you may be referring to.
You do understand that the share prices of companies in financial distress get slaughtered after doing a Reverse Split. So what incentive is there to buy shares of ANR now?
The 10Q Income Statement shows just $1.5 million in Other Income which was explained as a Gain from the Sale of a Lease. Where did you come up with $50,339,000?
If todays market action is any indication, the Street is not buying into this Special Dividend windfall. I bet some holders are scratching their heads wondering why the SP is not somewhat higher.
So basically the Advisor came to the conclusion that the SP needed to come down. And that they expect the company to make up the drop in BV through increased growth and earnings.
A year to go over $16.50, knowing that they are going to pay a market rate dividend from the get go? That's a pretty negative assessment.
Sorry stockguru but I get the info on BV straight from the 8K Filing. I'm not sure if you even know what that is.
It's absurd. Anyone long on ARR have to be laughing their butts off reading this farce that the BV is $1.93 or $2.05 per share.
and was expected to bounce back to $8 just like that it would be over $10 right now with heavy volume buyers.