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Re: JB3136 post# 443914

Saturday, 01/16/2016 10:45:10 PM

Saturday, January 16, 2016 10:45:10 PM

Post# of 729594
Hard to tell without Fleet Farm's annual revenue numbers. I've seen anything from 1 million to $1 billion.

http://www.northlandsnewscenter.com/news/local/hermantown-marketplace-one-step-closer-to-reality---295841321.html

The marketplace will include a Mills Fleet Farm, which is investing about $18 million into the site which will include a gas station and car wash.



35 stores x 18 = 630 x 1,000,000 = $630,000,000 <-- property only assuming all property owned by Mills Fleet is worth $18 million.

WMIH o/s (doesn't include preferred converted shares) = 206,168,035

630,000,000 / 206,168,035 = $3.056
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Which still doesn't account for NOL and annual revenue.

($1 billion annual revenue untaxed first year/os) = 1,630,000,000/206,168,035= 7.906172263804134
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Assume $1 billion annual revenue (no growth) for remaining NOLs and no change in o/s =

$5,000,000,000/os = 24.25206215890839 + 7.531139842496883 = $32.15823442271252 pps

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Short answer - $7.50 to $32.16

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I deleted the preferred conversion. I'm slightly inebriated right now and I don't really want to do math. Heck the math I typed up might actually be really off.
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