Ann: Trading Halt, page-40

When considering the share price today versus the historical share price, you need to take into account the number of shares on issue. Pre Thailand (when the price was $2.38/share), how many shares were on issue and what was the total market capitalisation of CVN (no of shares on issue x price per share)? There's now 1,562,000,000 shares on issue so at $1/share the market value of CVN would be over $1.5 billion dollars. That's a lot (remembering that CVN only owns 20% of Dorado), and would indicate a value of 100% of Dorado of $6 billion dollars plus (after adjusting for CVN's other assets). You have to ask yourself the question 'Is Dorado really worth $6 billion+?' . If you don't think it is, then logically you would not expect CVN to trade at $1. GLTA and DYOR