NanoViricides Inc. (NNVC)

[JG36]

In March 2018 NNVC had just under $11,000,000 in cash and valued their Shelton facility also at just under $11,000,000. NNVC is spending about $2.5 million per quarter. So in October they should have about $6,000,000 in cash. I figure the plant will have depreciated by another $1,000,000 or so, leaving about $16,000,000 in assets. So I was a little high -- that works out to about 0.23 per share in October. The valuation of the plant does put a lot of value on the equipment, which may not be realizable in a liquidation sale. BTW, in 2019 when NNVC runs out of money I expect Theracour to "lend" NNVC the money for the payments to Theracour, with the Shelton plant as collateral. This way when NNVC goes bankrupt Theracour gets the plant and shareholders don't even get the value of the real estate.

Certainly the current value of NNVC shares prices in a lot of optimism.