Should have mentioned the quarterly report did mention a $45 million adjustment figure for working capital, but that is nowhere close to the amount required to run the Daunia/Blackwater operation so it is still totally unclear what was purchased. How much inventory, receivables and payables were assumed? The $45 million would barely cover prepaid expenses such as insurance policies, property taxes, and such items that are likely paid on an annual basis and adjusted on closing.
WHC Price at posting:
$7.89 Sentiment: Buy Disclosure: Held
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