Thanks for your post James, I thought it was a reasonable...

Thanks for your post James, I thought it was a reasonable discussion of the issues involved.

I know that mostly on HotCopper people get MC wrong, sometimes when they're out by a factor of 2 or more (as in this case) I'm tempted to point it out. This discussion could be repeated on a number of stocks tomorrow.

I understand people are getting these smaller MC numbers from their trading platforms, but I think it's clearly wrong to exclude issued but unquoted shares from a MC calculation.

I also think that excluding options that are deep in the money (regardless of time to expiry) is also wrong, but I know that plenty here think that way.


To put all this in another way and bring it back to CYS:

If I were to make a full cash takeover tomorrow for CYS at today's closing price of 44.5 cents a share, how much would it cost me?

The answer to this question is how much the market today values the entire company at, ie the market capitalisation.

The answer isn't $14 million, so what meaning or use can that figure have?