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Re: Brentkelley24 post# 36544

Friday, 03/14/2008 4:42:34 PM

Friday, March 14, 2008 4:42:34 PM

Post# of 87366
The audit would be an internal accounting audit, not an IRS audit. That being said I think we should look at the merits of what has happened or is happening with HCPC; not all this other speculation. We do know 11 mil in closings so the program works. We do know that preferred stock totalling $1 billion is being issued to support holding loans in house( lets assume thats the only money they lend out).And assuming the company only gets 2% upfront and works on a 1% spread, gross income for year would be $30 million less 1 mil operating expenses is $29 mil net. 29 mil divided by 7 bil shares(assuming no buyback) equals .0041 per share. If we trade at a multiple of only 3x earnings stock is worth over a penny. This could be the most undervalued stock on the market.
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