Chase Packaging Corp. (WHLT)

[Phaedrus77]

isn’t the company’s book value just 1.3 cents per share? Since it’s all cash, why should it trade at 270% of bv?

I see they have about $1 million of NOLs, but that’s not worth much.

They’re burning about $60k a year, and it’s hard to do an acquisition when you’ve only got $750k. Any acquisition would probably be too small to make sense as a public company (ie public company costs would eat up a disproportionate share of any income).

What am I missing?

Edit: I assume you think the public co shell is worth more than $1 million to a company that wants to go public via reverse merger?