NanoViricides Inc. (NNVC)

[JG36]

With my current estimate of NNVC's cash on hand, the (depreciated) value of the Shelton facility, and the number of shares outstanding, I'd say NNVC is worth about 27 cents a share. So the bear side of the strangle contest is basically a question of when you think NNVC will be fairly valued.

Of course this is assigning no value to the license with Theracour. Given NNVC's current track record this is a reasonable valuation to make. The bull side of the strangle contest is basically an assertion that the licenses with Theracour are actually worth something. I'll let somebody else take up that argument.