ATL Chart, page-41

ok - see most of you buying based on chart action- i have read the presso

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

so i came in for a play but really it is pretty risky- and i suspected that when the shares were below 30c when i looked last year - the buy was more recent as they were cheap in this market -not so much with all the uncertainty last year!