>Net proceed from sale price will be less than $25mil, as you have to substract $3mil of related expenses. taxes, related cost - agreed. Will not be $25m. But equally, the C10 & DWX was $2.3m profit - so possibly have some more cash there after six months. None of us really know whether a higher bid will be forthcoming. It is certainly possible.
>So after the sale, we have about only $22mil left + TSI.I don't know much on how they value their TSI's share TSI is independently valued at $5.5m to $8.9m. EBITDA was not $1m.
Its your call to take the absolute worst case scenario for each possible variable to support your valuation.
VOR Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
