Ann: Factory closure and future update, page-2

It will be interesting to see how this close down works through. Loretta Lee seems a pretty tough cookie and obviously wants to "retire". They sold FIT for 4 million and sold the 33.79% of Tianxing for $8 million. Both rather surprisingly high prices so obviously she is a good negotiator.

The remaining Textile business appears to be carrying nearly $10 million in buildings and improvements and $10 or $15 million equipment so if MHI manages to sell that off even for a quarter of that then potentially there is another $5 or 6 million to add to the $7 or so million cash.

Potentially a fair bit to distribute on wind-up. BUT risky here definitely DYOR!