over promised under delivered, page-3

this is actually quite sad -

"duke the following scenario is more than likely:

"If on the other hand, the assets can be sold for more than $2 million, AND there is sales growth, then CLV is under valued"

Discussions with CLV: the soy beans were sold at a premium to market due the floods last year. There was over $500k in stock. The plant and equipment are close to being sold and it is expected that there will be no further writedowns as discussed at the AGM. European and USA sales are ahead of budget. This will need to be offset against the delays in Asian deliveries due to the floods in Thailand.

All this should make for an interesting half year report."

Well, it did turn out to be interesting in that, there were further write downs CLV is flushing $200,000+ per year in interest payments, and have already written down $750,000 of the $3million of liabilites (split between the partners).

They really just need to sell it and be done.