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Re: Enterprising Investor post# 1

Friday, 12/14/2012 7:12:36 PM

Friday, December 14, 2012 7:12:36 PM

Post# of 36
How do you estimate normalized PTPP with a fairly new, over capitalized bank?

It looks like the bank now has $11.4mm in equity, with another $1mm if all warrants are exercised. I'm estimating about 5.066mm diluted shares O/S, but my numbers could be wrong.

June '12 BVPS was $3 per share, total equity was 7.584mm. Shares O/S 2.528mm.

9/10 capital raise of 1,181,600 shares, 295,400 warrants at $2/share.

9/30 equity of $9.7mm

12/13 capital raise of 848,726 shares plus 212,182 warrants at $2/share.

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