value of fdl

Would I be correct in saying that FDL is considerably undervalued at a share price of 1 cent?

Looking at the shares on issue, around 600m at the moment, they have a market cap of $6m.

The options are way out of the money so we shouldn't include those.

They hold 7m shares in MXR which at yesterday's close was worth close to $3m.

So the market is effectively ascribing a value of $3m to the remainder of FDL's operations.

This includes their small stake in CRJ and their various others projects.