The last time we saw WIP it was way , way, way , way over...

The last time we saw WIP it was way , way, way , way over reserved.

SHJ in its prospectus ran at 9% WIP, SHJ got slapped for bringing this down to 4% then before it went dark it was over 20%.

This is a reserved which historically runs at single digits, this is a reserve that Slater used to keep well under SHJ 9% 20yr average.

For this case alone the $40M has had on estimate $8M of PURE profit hidden, This is an additional $4m above what was required. Pressure needs to be put onto the board to bring WIP down to historical averages.

This represents approx 10% of the WIP, it is recoverable at 100% now even though it had 20% assigned to it. This case alone is reason to bring the WIP down to 12% again, but itself it would significantly improve historical WIP performance.

You can't get any more PURE profit than released reserves, they're an accounting entry with no COST. So even though the company may only make 30% Net of its $40M it has to release the $8M of reserves assigned to this claim. Thats an accounting profit of $20M

This case was 40M in the WIP
It had 20%+ provision so only $32M of it featured.
from this 80%ish it also had a 30% Future Tax Provision as a liability, so it was showing $22M
This settlement will jettison NTA

SHJ are kicking ASS but need to be more mindful of shareholders, I hope they change their ways with a big special divi.

Think about what this means for first half YR - Gross Profit is going to be almost half of the valuation.

There needs to either be a Special Divi or first half divi will be heading towards double digits

SHJ is making so much more money and is worth so much more then what is was when trading at $3 - WTF???????

It is full to the brim with money