yeah -below is a bit of a post of mine from May- I know it is a...

yeah -below is a bit of a post of mine from May- I know it is a bit rough but anyway I think it was, and is relevant

"looks to me ( because of their debts of $250m which cover fleet, land and carry on loans means the equity in the fleet and land basically has a debt outstanding) you are getting a manufacturing operation producing (normally) 2000 odd units a year and averaging $65 000 a unit -maybe more now with price rises ( i assume) - I wonder if its possible they could restart NZ manufacturing which might help volume a bit ( guess) - I work out the 2000 belwo as i see previous eyar they made 2100 odd but closed NZ since -and they are talking of sales of 1000 for six months this year despite some factory disruptions!! it did sound a high number to me!

Anyway 2 000 units at say a margin of just $5 000 would be a gross profit of $10m a year on a $100m cap company- but the upside is in better margins and /or getting the rental fleet working again!! they were only sitting at 20 odd% of pre covid rentals according to their graph! cash burn of $4m a month was sure eating into equity values!!

there is upside if they continue to sell units above the stated equity values but they are only doing about that by the look- they have 3 000 odd units and equity stated at about $35m which is only about $11 000 a unit"

Glad I added on pullbacks -the camplify interest helped me to be more positive , as it was a buffer, just in case things were still going poorly!

I suspect your $1 not too far off as a target, but maybe bit of upside if they can get more of that fleet rented out- thanks to you and maybe Motors for alerting me to the Camplify opportunity too!!