ProGreen US (PGUS, Financial) CEO Jan Telander purchased 915,000 shares on Sept. 29 and Oct. 3, according to a Form 4 Â filing with the Securities and Exchange Commission. The purchase was made in six transactions.
On Sept. 29, Telander purchased 15,000 shares at 0.0195 cents per share. Then on the same day, Telander added another 25,000 shares at 0.0196 cents per share. On Oct. 3, Telander continued to purchase shares, adding 490,000 at 0.019 cents per share, then another 135,000 at 0.0195 cents per share. Telander bought another 10,000 shares at 0.0198 cents per share and finished with 240,000 shares at 0.0199 cents per share.
ProGreen US has a market cap of $6.55 million, an enterprise value of $8.97 million, a current ratio of 1.15 and a quick ratio of 1.15.
ProGreen US is a real estate firm based in Bloomfield, Michigan. The company has been engaged in acquiring, refurbishing and upgrading potential income-producing residential real estate. The properties, once refurbished, are then leased to suitable tenants. According to ProGreen’s most recent 10-K filing, as of April 30, ProGreen US owned 14 properties, two of which have been subsequently sold.
According to GuruFocus, ProGreen US has a cash to debt ratio of 0.04 and an equity to asset ratio of -0.22. The Piotroski F-Score of 5 indicates the company’s financial situation is typical for a stable company. The company also has a -163.37% operating margin, a net-margin of -502.47%, an ROA of -154.52% and three-year revenue growth of -37%.
ProGreen US has 4 severe warning signs that investors should pay attention to, according to GuruFocus.
- The company’s Altman Z-Score is -3.98, indicating that it is in the distress zone and there is a possibility of bankruptcy in the next two years.
- The company’s Sloan ratio is (-25.61%) higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
- The company’s per share revenue has been in decline at an average rate of -37% per year.
- The company continues to issue new long-term debt. Over the previous three years, it has issued $0.326 million of debt.
According to the company’s website, Jan Talender’s success in business spans over more than three decades. Telander began his tenure of developing and directing several successful business models in the early 1970s. Over the last few years, Telander has had major successes including starting up SolTech, a leading solar technology company in Sweden and China. In Spain, Telander is responsible for the building of over 500 homes.
Disclosure: Author does not own any shares of this company.
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