Miramar Labs Inc. (fka MRLB)

[Boxsterfan]

Buyout at $20M initial payment (but must pay down debt). Debt (total liabilities) $16M. 9M shares outstanding divided by $4M gives you the rough $0.31/share. If the company meets sales goals, up to $14M more money coming.

So you have a range of around $1.10 to $2.00/share depending if they meet some sales numbers.

Could be a good speculative buy. Moreover, a company like Allergan should be looking to buy MRLB because Allergan just bought Zeltiq and the "unit" that they use looks almost identical. Different functions but certainly the units could be integrated together. Otherwise, with all of these aesthetics devices a clinic would need a storage garage to hold them all.

I wouldn't be surprised to see Allergan come in at a competing offer much higher than what SIEN is offering.