Just read through the FY2008 report, trying to sizing up whether...

Just read through the FY2008 report, trying to sizing up whether it's worth a few dollars on this.



Shares on issue - 2,375,740,842

Market cap (as of 11/11) - $156,798,896



Total Assets - $14.19B

Total Liabilities - $11.27B

Net assets - $2.92B



Current Assets - $980M

Current Liabilities - $1.41B




So, BBI needs to find $421M to service current debt.

In the event that BBI is unable to service this debt obligation and the winding up of the company was to occur, the sale of BBI's assets would have to realise no less than 81% of BBI's stated asset values ($14.19B, according to their Investor presentation Oct08) for shareholders have the current shareprice returned to them.

Seemingly, assets held by BBI are of quite a sound nature, and in regulated industries which would offer potential buyers relatively safe income generating investments.

The question remains though, as to whether an 81% return of stated asset values is achievable in the current climate (this is of course only if BBI was unable to meet it's short term debt obligations and was wound up....obviously the sale of all assets would not be required if short term debt was met).

I am unconvinced either way at this point.

Thoughts anyone?

Please leave one line ramps and unsubstantiated comments at the door.