Ann: Trinity Announces On-Market Security Buy-Bac, page-2

re: Ann: Trinity Announces On-Market Security... This introduces a bit more upside, and liquidity too.

NTA of $58m (according to the balance sheet), market cap of $44m. The buy-back IMO should move the SP closer to NTA...

I don't have a lot of shares, but I'm happy enough holding.

I guess buy-back is the better strategy compared to dividends while we're trading at a discount. So maybe we won't see any dividends this year but the buy-back will be good anyway. Hopefully management can keep up the positive EPS.

TCQ's financial statements are pretty complicated...I am trying to see the profit from continuing operations minus any fair value movements etc, simply an operating result.

There's too many random expenses and revenues...doubtful debts, doubtful debt reversals, loss on disposal of financial assets, Lorne resort cost of sales of apartments (is this continuing operations?), gain on disposal of financial assets, revenue from sale of Lorne apartments.

Can anybody here predict whether the next half will be profitable?

With management planning to distribute funds through a buy-back, they must feel confident in the company's performance in FY2012.