probably a good thread to post this - for a willing buyer - at todays prices your essentially getting the whole company for $22M ( or 7 cents out of the 19c SP). the other 12c is supported as below.
Item
$
Bitmap
20% Investment in ASX RKN at market value 22,518,138 x 59c SP
$13,285,701.42
RKN special dividend received (57cents per share) 60% franked therefore 0.7166 GROSS DIVIDEND Amount - 22,518,138 x 0.57
$12,835,338.66
22,518,138 x 0.1466 Franking credit (non refundable but a future benefit to NOV)
$3,301,159.03
cash balance end of Q1 FY2023 (September 2022)
$14,500,000.00
you could be conservative and remove $2M in estimated net cashed used in operations for Quarter ending 31 December 22 (since we wont know until end January) based off the trajectory of previous quarters and being conservative
-$2,000,000.00
TOTAL
$41,922,199.11
TOTAL Mkt cap
$64,300,000.00
SP
0.19
above as percentage of market cap
65.20%
above items represented in Share price
$0.12
Entire actual business valued by Mr. Market at remaining
$0.07
or $22.37M
NOV Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
