|Problem solved and lots of room to recover|
Wednesday, May 11, 2016
Input Capital announces account resolution
Input Capital Corp. is pleased to announce that it has now substantially resolved the largest of the three streaming contracts which were terminated in November 2015. As a result of management's determined collection efforts related to this streaming contract, the following results have been achieved: In late March, Input took titled possession of approximately 2,000 acres of farmland; On May 1, a farm equipment auction was held in which approximately 60% of the equipment held as security was auctioned. The auction was very successful, with over 800 bidders registered to bid and gross sales exceeding the expectations of the auctioneer; and Late yesterday, the titles to approximately 3,000 acres of additional farmland were transferred to Input.
Input has taken possession of the balance of the equipment and is planning a second auction for June 2016. The 5,000 acres of farmland now owned by Input have been rented to local farmers for the 2016 growing season. Input plans to market the land for sale after harvest and has already had several inquiries from potential purchasers. Management expects that the proceeds of the auctions and the planned land sales will result in a complete recovery of Input's capital associated with this streaming contract.
"Complete recovery of Input's capital". This was the outcome we expected and that is why the stock is up big today. Now that this is resolved the weight on the stock price is now lifted and we can expect the price to move back towards the valuations we saw last year. I see this trading over $2.00 fairly soon.