Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Wayne Cooperman –Cobalt Capital Management
Wayne Cooperman –Cobalt Capital Management
So we heard all this stuff before with all the different subsidiaries, I guess the question is does that list parent company—is there any reason it should be public and could you elaborate a bit more about share repurchase, how much share repurchase you may or may not do given our cash balance on our basically $30 million plus per quarter that’s coming in without us having to do much of anything at the parent level?
Edward Cohen
As to whether we should be public, of course one can’t help but be depressed at the stock price performance and I know it doesn’t help me any to recognize that our stock price performance in almost any period one looks at it, has been exceptionally good because we may be down less then other comparable companies and we may not have suffered the difficulties they have suffered, but nonetheless one does like to see a proper respect for amazing achievement.
So I’m not going to reach the conclusion that this company ought to be private although I can understand how some people may feel that if we’re not properly appreciated going private transaction should be considered. I’m not quite at that point yet because as I indicated, we’re going to re-intensify our efforts to get our story across. It is, we think, an incredible story. Its not the kind of story that’s conventional and I know that when I often go to energy conferences, which in my capacity I do quite often, in recent years, I’ve been amazed at how each and every company that gets up speaks favorably about their results because of course in the buoyant atmosphere that we’ve been in, how could one if you’re operating an energy company not report great results.
And we were always the one jarring note because I’ve always been concerned about downside and I’ve always been pointing out the downside protection that ATLS and its subsidiaries have. So now some people may think that energy is entering a less optimistic and successful period then previously and this should be a period when our downside aspects are coming to the fore. As far as what we indent to do specifically, I’d rather be reporting on that at the end of this coming period rather then at the present time because these are stock market transactions and we’d like to--
- To read the full transcript on Seeking Alpha, click here »
