Interestingstock this one! Rising from the ashes of “Cell Aquaculture” which was anattempt at an indoor barramundi growing tank system that was never economically viable.
Then theywent off at a vast tangent into a property investment in Hainan China that finallylooks like it is coming good. Last year $1.5 million rent came in and thecompany essentially broke even.
The keymissing link was the large “Exhibition Centre” component, which has nowapparently been leased with an EXTRA $2 million annual rent due to commence, aftera 3 month rent free period (i.e. from next quarter). If the deal sticks thatmeans good free cashflow potential for CAQ from now on, given there seems noneed to increase costs in the company.
The Hainancomplex is valued at $69 million there is $1.5 million cash, and there is only about$4 million borrowings, hence NTA over 8c per share.
It’s a bargaincompared to last sale 1.6c BUT of course anything China related is dangerous!! Also VERY thinly traded.
