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Re: michael_a_berenis post# 37395

Monday, 04/16/2007 3:36:13 PM

Monday, April 16, 2007 3:36:13 PM

Post# of 115222
I did the math on it before. I calculated 1 SGDM for eac 3 to 4 AURC.

From the latest SGDM 10K:

"Although the agreement with the UniverCompany Shareholders provides that
the consideration for their shares will be the issuance by us of 41,000,000
shares, it is contemplated that we will issue 15,000,000 shares for the
UniverCompany shares."

Keep in mind that Univer has 1.7 Billion in Gov't certified assets.

15 mln shs x 6.30 (pps of sgdm) = 94.5 mil

AURC 8.5 bil divided by Univer 1.7 bil = 5x more AURC assets

5 x 94.5 = 472.5 mil for AURC undeveloped assets.

472.5/319 = 1.48 per share worth of SGDM @ 6.30 per share.

6.30/1.48 = 4.25 AURC shares for ea 1 share SGDM.

AURC has more developed assets compared to Univer is how I arrive at 3 to 4 AURC for each SGDM.

Vic