8million us back , page-8

If jfc's valuation is about right then we can build on it.

QAD holds 6.35% of Iridium

The value of QAD's holding is therefore 6.35% of jfc's conjectural valuation of $500,000,000 = $31,750,000.

There are 453,000,000 QAD shares issued.

Therefore Iridium is conjecturally worth 7c per QAD share.