HTA shareholders - no new shares?, page-54

There is no value proposition in MYR. No service. Hard to find someone who knows much about the products. Even harder to find someone to pay sometimes. Can't trust prices because it might be on sale on Saturday. Poor inventory management. Horrible website. Atrocious logistics.

On top of that is too much debt and a board who have no idea about what the business model is.

By way of example, more than once my wife received an item no bigger than your fist in a 1x1 metre box. For a single order made in one transaction we received three different parcels from two different states and an email telling us another item we paid for was out of stock! All were very low value items. E.g. one item sent by itself as part of the order was a $4-$5 garlic crusher. Shipped separately.

Myr is very high risk (of going to zero) for potentially not that much gain.

Going back to HTA I think this is maybe worth 20c, perhaps a bit more and is undervalued compared to TPM simply because it is small and has basically no brokers or analysts covering it.

So long as you believe TPM is fairly valued, HTA is undervalued at the moment. Also assuming the merger goes ahead which I think is very very likely.

In the unlikely event regulators block the merger the fall will be bigger for HTA than TPM though.