Broker Note, page-8

I'm pretty much in the same boat. Even in its current unproductive state, the Groundhog site would be worth pretty close to the current market cap of Atrum. On pure fundamentals then, you would attribute an enterprise value of zero - which is clearly absurd.

The current share price I think reflects two things:

1. Holders who are tired of the delays getting to production and think their money can be put to better short term use.

2. Buyers like me who are basically "full up" and can't really allocate much more of my portfolio to it. I first bought in at $1.90 and averaged down (read: "BACKED THE TRUCK UP!") to actually be in the green at these levels, but not by much ...

Blue skies from here!