How do you get 0.015? OVT's own valuer put a price of $40M Ringit for IDSB - approx $13M. Take off the $1M on the books for the loan, which makes $12M left. Take off about $3M in liabilities, which leaves $9M. Allowing for no other costs coming out, $9M on the current 1.5B SOI makes it 0.006 a share. If they went ahead and actually got people to buy the remaining 470M shares still outstanding from the failed SPP at 0.004, that would give them an additional $1.88M, but would increase SOI to 2B shares. So $1.88M + 9M = $10.88M. Based on new SOI of 2B shares, that would make it 0.0054 a share. Then every day they are in business after that and losing money, that would continue to go down. Plus they would have lost the IDSB dividend payments, so what they have they would need to invest in another profit making company ASAP.
They really will have to pull a rabbit out of the hat to keep this business running IMO - unless something is hiding that we are not aware of that is going to turn into a pot of gold.
OVT Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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