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11-16-2012, 03:39 PM
OthmarAmmann's Avatar
Join Date: Jul 2010
Location: NYC
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Originally Posted by CGG View Post
I get $308 million over 20 years, but close enough.

So valuing the obligation comes out at somewhere between $130 mm and $200 mm (4% to 10% discount rate... 10% might be high but who knows really). This is more than 10% of their current debt outstanding. Considering they had to cut a debt offering this January to $6 million and all short term, it's telling that the ownership group is not conducting due diligence.

Their comprehensive financial report should be out sometime in mid December. Should be a gas.

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