arrowhead valuation report, page-5

Had a closer look at the report - Arrowhead is a NY based boutique finance consultancy. They also provide networking opportunities for companies and investors. BRM engaged them to produce the report, so the figures will most likely have the nod of WR, so the report cannot be seen as independent. My guess is this report might be part of a forthcoming push to drum up interest for capital raising. The higher the sp the better. In this context the $5 valuation is interesting; as a lot of us have suspected this would be WR's optimum base line for a future raisings.

Still it's interesting that they are using Arrowhead & not the heavyweight UBS for this. Come to think of it UBS does not seem to have done much yet to earn its silver; and they have been corporate advisors for 12 months now. Who knows, Pperhaps the recommended Arrowhead.