Author Topic: TNA - Evergreen Gaming  (Read 6173 times)

Okonomen

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Re: TNA - Evergreen Gaming
« Reply #10 on: May 06, 2018, 12:19:08 PM »
Any thouhts on the recent realease about the late publication of AR 2017? Seems like they are changing auditors as well... smells a little fishy


lessthaniv

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Re: TNA - Evergreen Gaming
« Reply #11 on: May 09, 2018, 07:56:16 AM »
2017 AR out.  (Comments taken from SH poster deleuze, vetted and added too)

4th quarter was excellent quarter and the balance sheet has really cleaned up.

4th Q Revenue of $9,413,000
4th Q Net income of $1,021,000

All figures in USD so earning of over 1 cent/share in CAD, a huge improvement over last year's 4th quarter. The quarter did include a gain of $246,774 on the sale of Tukwila but this was mostly offset by a one time final payment of $175,000 to buy out the Michels Maanagement contract.

In terms of the balance sheet the net debt position has improved from $7,274,791 to just $1,902,013 year over year. This was mainly due to net income of $3,032,091 and the sale of Tukwila for $1.9 million. This converted a fixed asset to cash, half of which was ultimately used to reduce debt. Total Equity has now been built to $15.1m US from $2.1m US just 5 years ago equating to a 7 fold increase in 5 years .

If Evergreen continues their operational performance they could actually be in a net cash position by end of June or at least end of September - which is crazy considering they are right now trading at only 6x earnings.

From the press release;

“Working capital at December 31, 2017 was $4,306,082 compared to working capital of $1,744,546 at December 31, 2016. With sustained healthy revenues and ongoing game protection and expense controls, management expects continued profitable operations sufficient to exceed the cash demands necessary for the company to meet its future obligations.”

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writser

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Re: TNA - Evergreen Gaming
« Reply #12 on: May 09, 2018, 08:07:16 AM »
Well done sir. I had a few greedy orders in the market but never got filled. Might have to take another look.
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

lessthaniv

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Re: TNA - Evergreen Gaming
« Reply #13 on: May 09, 2018, 09:09:36 AM »
Thanks. Next Q, end of month should continue to support the thesis. $.30/sh is easily justified, imo.. still lots of visible upside from here.

Illiquid, tight float, I own a long position.

Cheers,

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lessthaniv

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Re: TNA - Evergreen Gaming
« Reply #14 on: May 15, 2018, 07:42:11 PM »
Outstanding Quarter!

Just finished a first read through and I’m really impressed.

These are fantastic results.  Better than I expected and I was expecting good numbers. Looks like the acquisition of Dawn has paid off in spades. The change in equity over the last 5 years has been sensational. With the cleaned up balance sheet, a bit of growth and the ability to spin free cash flow this stock should benefit from a revaluation to a more reasonable level.

Quick Q1:2018 Highlights:

$16.6M in Equity vs $2.1M 5 years ago
24% Growth in Net Revenue year over year.
$1.5M Net Income or $.01/share (US$)
$8.4M in unrestricted Cash vs $5.7M in LT Debt

And amazingly, they reduced their year over year Labor/Benefits line even with higher minimum wage by closing Tukwila.

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lessthaniv

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Re: TNA - Evergreen Gaming
« Reply #15 on: November 13, 2018, 08:30:18 AM »
Yawn ...

Just another outstanding Q reported by this undiscovered little microcap. 28% growth in equity in the first 9 months of the year. Tracking towards $.05/sh by year end and currently trading at < 5x projected 2018 earnings. The company has done nothing but execute.



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writser

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Re: TNA - Evergreen Gaming
« Reply #16 on: January 09, 2019, 07:36:11 AM »
What's going on past few days? Large volume, up significantly, trading halt today. Takeover?
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

lessthaniv

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Re: TNA - Evergreen Gaming
« Reply #17 on: January 09, 2019, 02:38:12 PM »
Stock was halted pending news that was released today. The stock has moved up to $.39/share on the high. It will be very interesting to see if an offers develops here and at what price.  A fantastic outcome on this holding during a volatile stretch in the market. It's a good time to come into cash!
____________

Evergreen Gaming in talks to sell itself

2019-01-09 09:56 ET - News Release

Mr. Clive Forth reports

CORPORATE UPDATE

Evergreen Gaming Corp. has entered discussions with a third party that has expressed an interest in buying the company. No definitive terms have been agreed to, no formal agreements have been executed and there can be no assurance that the discussions will be concluded, any definitive agreement will be entered into or any transaction will be consummated. The company does not expect to provide further information or updates until a definitive agreement has been entered into or discussions between the parties have been terminated.
« Last Edit: January 09, 2019, 02:40:41 PM by lessthaniv »
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