Can say IPKL now = $50 million book value
Because this stock became a quick four-bagger from .0006, it retraced from .0027 due to natural give and take trading.
But my reading is that the recent China mining JV news, involving the $50 million funding for a new manufacturing facility, has not nearly been priced into the stock yet. Look specifically at this paragraph from the joint venture PR:
"The joint venture will be responsible for the manufacturing, distribution, sales, marketing, installation, deployment, and support of iPackets' iPMine solution to the mining industry in China. The operation will be based in the province of Henan, China's second largest coal producing province. According to the agreement, YongAn will provide funding of up to US$50 million to the venture, and over 10,000 square meters of land to build and outfit a world-class manufacturing facility in Henan."
My reading is that after picking through three different suitors for the joint venture, IPKL chose YongAn and YongAn brings to the table $50 million for the manufacturing plant in exchange for a cut of the future profits of IPackets technology sales in China. That means no cash or shares of stock went to YongAn, yet IPKL gets a $50 million dollar facility.
With 900 million shares outstanding and $50 million handed to the company, I would put forth here that the new and (very much) improved book value of IPKL becomes 50 million bucks divided by 900 million, or .055 cents per share -- MINIMUM. Considering IPKL is trading currently at less than one fifth of one cent per share, basic math shows this stock is undervalued by a factor of 32 times!!! (32 x .0017 = .055)
Would YongAn put up $50 million to build a manufacturing plant in China that isn't profitable? Of course not. Which makes .055 cents a share just the beginning of what IPKL is worth. Meanwhile, once those short-sighted flippers who got in below .001 are done selling their shares finally by tomorrow or Tuesday, satisfied with a mere 2- or 3-bagger, the run to pennies should resume with gusto, IMO.
Shakerzzz is probably being more realistic about a 7-bagger from this level, short-term, but still I think most holders here are in agreement with what several posters have delcared about this stock -- IPKL's run is only in its infancy.
