valuemanager03

Consolidated Mercantile: Cheap in Terms of Cash

Did you see the notice of delisting.... this was already an illiquid stock, and now it won't be trading on Nasdaq anymore (see delisting notice). Wonder if this company will really even trade anymore? Perhaps it will return to oblivion... back in the $1 range... but no one will care.

Consolidated Mercantile: Cash Rich Canadian Microcap

Excellent analysis and post. I have followed this company for a while and felt the *exact* same... but you have done a quite thorough job putting it in print.

I too thought the company would have had a great deal buying Prides Capital's shares (incredibly book value accretive, including to Litwin's stake). But they didn't. I guess they want to save the cash to maximize value of the next deal? I wonder, too, if age is catching up with the managers (not to say they are diminished by age, but do they still want make 5 to 10 year investments in their 70's???).

As a shareholder, I'd be happy with a liquidation of that $3 plus cash. More likely, they'll make some deal. Even if they destroy shareholder value in another deal... it would have to be 50% loss to break-even. Anything with a decent ROI would mean shareholders turn out marvelously. It's like a SPAC, but so much better since we are paying 1/2 of the cash value, and there are no warrants to dilute the upside.