Excel Corporation (EXCC)

[Stanson]

Merchants go out of business every day, its just the way it is. If you have a huge portfolio of merchants, some will go out of business. The company has to constantly add to their portfolio or else revenue will decline. Since they have no way to do that (bank line is frozen and they can't buy new portfolios) their revenues will continue to shrink.

With 98mm shares outstanding, your belief of a $0.50 share price would mean the Company has a market cap of $49mm when it sits today at $5.1mm. So what makes you think the valuation will jump almost 10x with no new assets coming into the company?