Acquires and holds net profits interests in oil and natural gas properties. Focuses on properties located in California. Now — the numbers.
This is an established company with proven profits.
An average decline of 28% a year over the last 4 years — the most striking risk in this picture.
If every debt were paid off today, $0 would still be left — though next to the size of the company that is a thin cushion.
The market pays 0.5× for every dollar of annual profit — cheap, which is either an opportunity or a warning.
No analyst target is on record for this company.
An investor who bought at the very peak is down 75% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.
The net profit margin is 83% — that slice of every sale is the company’s cushion in hard quarters.
The stock sits at $0.15. Under exchange rules, stocks that stay below $1 for too long risk being removed from the market.
Over the last 4 years, sales fell about 28% a year on average. Profit is holding up, but a shrinking business is a risk worth watching.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.