once in a lifetime indeed, page-4

Assets-Liabilities=Equity (A-L=E)

BBI has roughly 13 billion in assets (A) at book value.
BBI has roughly 10 billion of debt (L).
BBi's Equity (E) is roughly 3 billion.
Divide $3 billion by 2.4 billion shares and you get NTA of approx $1.25.

Sure, they have a lot of debt but the majority of it is at the asset level. If one asset fails it cannot bring down the company, only the asset the debt is tied to. People don't seem to be able to grasp this very simple concept.

The "debt" is the burning issue but does it warrant a 98% reduction in NTA? I don't think so. sellers do. I'm happy to buy their shares at 2.5c.
If they have regulated quality assets that can service the debt easily (which they are), then there is no need to panic. Just buy with your ears pinned back. I've been ravenous for these once they went below 6c.

Be GREEDY when others are FEARFUL.