re: kpmg valuation What's the value of CMQ shares? Close to $9...

re: kpmg valuation What's the value of CMQ shares? Close to $9 if Stark pulls the pin.

Even if we use the now highly optimistic KPMG's valuation presented to shareholders in the 23 March 05 meeting, this is the update:
KPMG’s valuation of $0.60 in Jan 05 (that has a PREMIUM in it) x 89.2M shares = $53.52M
Less $9.919M cash in the bank in Jan 05 with no debt; Less $28.7M debts (CMQ has $31.3M cash but owe $60M in bonds in Jun 06);
Less 8.5% Interest on $60M due on 30/06: $2.55M; Less June Expenses say $2M
= $10.35M
Shares outstanding today = 101.8M
Therefore KPMG's valuation of shares = $0.102 per share

Even this is HIGHLY optimistic - with the strategic review, it will takes years (if at all) for CMQ to break even. And there is a real possibility of receivership if Stark pulls the pin.