We are trialing a change to our summary presentation of company financial statements. The new summaries will look like this (this is our summary balance sheet for Aehr Test Systems (NASDAQ:AEHR) – it’s cheap but there’s no catalyst):
A brief explanation of the various changes:
- A. shows the carrying value of the receivables ($14.8M), our estimate for the percentage of carrying value the receivables will yield in liquidation (80%), the liquidating value ($11.8M) and the liquidating value per share ($1.41).
- B. shows the net current asset value ($25.5M), which, when added to the non-current asset value ($0.9M), gives the liquidating value for the company ($26.4M).
- C. is the same calculation as B. but on a per share basis: the net current asset value per share ($3.03), which, when added to the non-current asset value per share ($0.11), gives the liquidating value per share ($3.15).
- D. is the amount of stock the company has on issue.
- E. shows the liquidating value of the company ($26.4M), the net cash value of the company ($7.9M) and the market capitalization ($15.12M). In this instance, the company is trading at approximately 60% of our estimate of its liquidation value.
- F. shows the same amounts as E. on a per share basis against the stock price.
- G. and H. are the estimated liquidating value on a company and per share basis, and the net cash value on company and per share basis.
We’re keen to hear what you think of the changes. We think it presents the discount applied to the carrying values and the net current asset values more clearly than the previous summaries.
and QLTI too.
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Looks very well. Keep up the good work. Some net cash for your consideration: WCG, GSIG
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Looks good… clearer and better arranged. Keep up the good work; I hope all’s well.
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Thank you for your comments, Chad. We’re well. In boxing parlance, we’re moving like a bantam and punching like a heavy.
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