looked through a glass door and saw something about layoffs at abreon, maybe losing a big customer. true? was frank's story about "software upgrade" a transparent load of Joe Biden? speak up
but the recent asset sale went off at $63600 per boe. Multiply that by the projected 105000 of production and you get about $6.7B, which is right where this trades on EV basis, very roughly (adding $500M and subtracting that from the current Yahoo number). Soooooo . . . basically this is trading right where you would put a conservative valuation. Not bad, not fabulous either. Convince me that I'm wrong and this is a real steal.
dude you're not married to this stock. there's 4000 other stocks out there, most of them without punishing debt, self-dealing management and Cerberus tearing at the limbs.
So the management sets aside 2.5M shares to issue to themselves, in addition to the ton of PIK shares issued to the bondholders. all at the expense of ordinary shareholders. wait a few years for the next reverse split and recap, once the bondholders and management control the ordinary shares.
ha ha at the idea that anybody pays attention to me. just not the case. by the way, I've laid out my argument before, you could respond.
-when you value Unitek at 5x cash flow ex leases, then you get a value below the $180M of the debt. how then is the equity worth anything? because I'm slow, please carefully lay out the a) ebitda ex lease payments and then apply the appropriate multiple, using the example of MBND
If you do that, you'll find that the value of the equity is less than $0.