The available for sale investments for the year ending Dec 2007 was $7,896,200 (revised down to $6,883,700 on the 13/03). Is anyone able to remind me of the company they invested in? I assume this "investment" are shares.
Cash held at end of 07 was $1,205,979. Given that they are spending approx $300k on admin per quarter and that the recent quarterly gave a total deficit of $435,000, we may assume that they have less than $800K in the kitty.
At 1.2/1.3, the current market cap is approx $8m which gives no value for any projects on hand.
A serious dilution is on the cards but at what price given the above - may be a touch more?
She is a basketcase and the management are seriously questionable but she may not be a 100% sell. 1.1/1.2 and under may be reasonable IMO, however, raising $2 or $3m won't be too hard, but at what price, under 1c perhaps with a free option and an extension of current options?
If they raise $4m, they'll be 1 billion shares - based on current valuation, 0.7/0.8c may be about right as a placement price.
I'll have a second look at 0.9/1.0c with a view to perhaps buy. She still has a little bit to drop IMO. Chance of a consolidation too together with a placement ala the NEO model.
She's a dog but now the %s are high.
AEX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
