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#4
06-09-2009, 09:36 PM
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I guess I should clarify. The cash buyback will leave them with $10 million cash. And, including the most recent profitable quarter, they have lost over $33 million in the last 2 years. Yes, $27 million was impairment on the divisions just sold, but $6 million was operating losses. There is not a lot of room for error in a down economy. Selling PSA may give them a better chance at success. And the main owners and founders are primarily coin guys.
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