In this case the angle of decline can be seen from banks having $80m at risk with equity now valued at $15m. bacci
Great post to read bacci, but your facts are a little off.
Equity is the the same as market cap. Penrice's market cap is around $15M. There equity at 2011 1H was $93M, http://asx.com.au/asxpdf/20110224/pdf/41x069qljym82f.pdf
At this point of the game the critical ratio to keep an eye on is the current ratio. If it goes below 1 watch out. At 2011 1H it was a healthy 2.2.
For those concerned about bankruptcy then determine the Altman Z score. Although it was derived from mid sixties US data, it is rough enough.
Small position to keep me interested in case it ever shows signs of life.
PSH Price at posting:
15.0¢ Sentiment: None Disclosure: Held
