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If the ENP/IFTP deal goes through...

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Francois+Goelo Member Level  Monday, 06/18/01 12:43:06 PM
Re: None
Post # of 1520 
If the ENP/IFTP deal goes through...

the logical play is to arbitrage between the respective values of each stock...


1) ENP (13 cents) reverse splits 1 for 18.55: .13 ÷ 18.55 = ± 0.008 cents...

2) Assuming IFTP has 600 million shares to be divided by 13.1 million ENP, it would give a 45.8 ratio...

IFTP trades at 3.2 cents, hence: .032 ÷ 45.8 = .0007

So ENP seems to be the better value by a factor of 11.4 (.008 ÷ .0007 = 11.43), although if the deal fails, it's likely to become worthless... I spoke with David D'Arcangelo, who thinks there is a very good probability that it'll happen...

JMHO, F. Goelo + + +

PS: The quote used for ENP was the close on 14th June and the stock now trades at 16 cents, while IFTP is even lower at 2.4 cents...

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