is looksmart even worth a dollar

LOOK closed at another all time low overnight and now the question needs to be asked.....is it even worth a $1???

it had $45m in cash in the bank as of March 31st.

it has a $40m security over lease covenants (which might have been breached)

which leaves LOOK just $5m in cash in the bank as of march.

I suspect it is even less now.....possibly $1m to $2m

so how much is LOOK worth????

it only will have say $2m in cash.

is it worth even $1????

in a fire sale.....NO

in an orderly sale.....maybe.

the situation is grave and the downside has more risk then any chance of an upside move.

i just hope anyone who held bailed.