Shi- I think at one time ISC did hold a tremendous value in its technology "closet" and certainly some significant value remains. However, the TECH CLOSET is like a garden but McGann has treated this garden like an ogre not to be seen by anyone. What kind of a CEO lets the SP decay to the point that he now has to dance a jig to sort of "spin" the value back into the company? Not a good CEO, that is for dam sure.
sure, I want 5 billion dollars for the IP and 2 billion for the NOL-- shareholders usually overvalue everything...its like a baby--its always the cutest baby the world has ever seen...but this baby was hidden away and kept from the light of day...and we shareholders can't say much about the value locked up in that closet.
So we wait to see what's on the hook...but our bait got pretty old...
The only thing he said publicly about ISC that has some bearing is forward guidance on revenue...that begets a 4-6 X value...say they will be 50M so 200 to 300M is a bottom of the barrel valuation on revs....and NOL has value, reduced to say 50M and contracts with installed base has value...lets say 20M and then we have the IP Closet...you give that 1B$ value, I give it closer to $50M value so that's where its at.; about $350M on the low side to 1.3B on your side of the line.
I hope you are right and I am wrong. IF you are right, then this entire "trip" has been well worth it. But remember, GB liked $500M w/ 112M to 120M shares outstanding...and he knew EXACTLY what he was talking about.
AI
