AgInAustin
2 years ago
Some WCRS info from Cedar Creek's 2021 year end letter
https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf
===========
Western Capital Resources (WCRS) is another stock we have owned numerous times over the years. For a few years, it not only traded at a discount to book value, but also near its net cash, all the while paying a decent dividend. Its retail division, which direct markets roses, plants, seeds, holiday gifts and restoration products, did very well during COVID. The stock is around $7.50 with 9.1 million shares outstanding. Trailing twelve
month earnings were $1.08 per share. Book value was $8.20 per share as of September 30, 2021. Net cash was $5.07 per share. The company repurchased shares at $7 during the third quarter of 2021.
=========
from: $WCRS - insider buys. Earnings are seasonal so TTM is a good measure. TTM EPS=1.09 up 30% from previous 12 months.
$5.5 cash&investments/share.
Book value=$8.31
Stock at $7.85
Little debt
share reduction
Pays dividend (1.3%)
Good management
Undervalued stock!— FredZ (@AgInAustin1) November 16, 2021
$WCRS - insider buys. Earnings are seasonal so TTM is a good measure. TTM EPS=1.09 up 30% from previous 12 months.
$5.5 cash&investments/share.
Book value=$8.31
Stock at $7.85
Little debt
share reduction
Pays dividend (1.3%)
Good management
Undervalued stock!
===========
Good value investment
Churak
8 years ago
I saw that. It appears that everyone with less than 5,000,001 shares pre split ends up with one more share post split than what they began with pre-split.
My bad.
Not sure what the purpose is other than of you have to divide by 5,000,0001 FIRST in the ration calc, you would end up with 1 share post split vs one MORE share than what you began with. Could be a tricky way to wipe out the common sheeple
Renee
8 years ago
E-ore (my friend, FWIW) gives his interpretation on the WCRS reverse schplitt on the Reverse Splits board:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125072952
e-ore Member Level Friday, 09/09/16 07:34:12 PM
Re: sidedraft post# 12822
Post #
12823
of 12829 Go
"If the reverse stock split is effected, then every 5,000,001 shares of our outstanding common stock will be combined into 5,000,000 shares of outstanding common stock. We will not, however, issue any fractional shares as a result of this reverse stock split. Instead, any resulting fractional shares will be rounded up to the nearest whole share of common stock. So for example, if you were a holder of 88.25 shares of common stock, then your post-split would be determined by multiplying your 88.25 shares by 5,000,000 (resulting in a product of 441,250,000), and then dividing that product by 5,000,0001 (resulting in a quotient of 88.2499824); and the resulting fractional share would be rounded up so that you would have 89 full shares after giving effect to the reverse stock split. Similarly, if you were a holder of 10,100 shares, then your post-split would be determined by multiplying your 10,100 shares by 5,000,000 (resulting in a product of 50,500,000,000), and then dividing that product by 5,000,0001 (resulting in a quotient of 10,099.998); and the resulting fractional share would be rounded up so that you would have 10,100 shares after giving effect to the reverse stock split.
The reverse stock split will affect all holders of our common stock uniformly and will not affect any stockholderβs percentage ownership interest in our Company in other than a nominal manner."
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11536691
Churak
8 years ago
It seems to moi that they are eliminating anyone with less than 5,000,001 shares. If you have less than 5,000,001 shares, you will end up with one share.
IMHO.
This, notwithstanding, the narrative in the filing.
sidedraft
8 years ago
Conspiracy theory time...
Using the data from OTC:
WCRSD Security Details
Share Structure
Market Value1 Not Available
Authorized Shares 100,000,000 a/o Sep 09, 2016
Outstanding Shares 9,497,860 a/o Sep 09, 2016
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float 2,002,221 a/o Sep 09, 2016
Par Value Not Available
Transfer Agent(s)
Corporate Stock Transfer, Inc.
Shareholders
Shareholders of Record 308 a/o Sep 09, 2016
There can only be one holder of 5,000,001 shares or more.
What if the split will give that holder of 5,000,001 or more shares, 5,000,000 shares after split.
And the other 307 shareholders get just ONE share, after the split?