Calypte Biomedical Corp (fka CYPT)

[sower]

flavius...

I think you're a little low on your calculations for pps of $3.75.

When you used gross sales for Orasure and net profit for Calypte, you compared apples to oranges.

If you use the NASD financials, it shows Orasure gross earnings for the first half of 2004 at 25M. Multiply x 2, and it comes to 50M for the whole year. Your figure was 70M.

Looking at Calypte....

Using your estimate of 50M kits (50M x 4 countries = 200M) at a price of at least $2.00 per kit, that's 400M gross sales. That's 8 x bigger than Orasure.

Orasure is trading at $5.34 / share on 37.7M outstanding shares. Right now the stock is trading at about 4x earnings.

If Calypte's gross sales were at 400M and the os is 168M, using the same valuation of 4x earnings, Calypte would be trading at $8.30 / share.

Back in June, Osure was trading at over $10.00 / share, the valuation at that time was 7.4 x earnings.

Using the same valuation of 7.4 for Calypte, the price would be $17.62 / share.

My own opinion... all of us are going to be glad we invested in Calypte

sower