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Friday, October 17, 2008 10:45:22 AM
RE "Speaking of CEGE, how can they have 128M in cash and short term investments (128M at end of year) and a market cap of 12M. Isn't that $1.40 per share in cash and ST investments? "
It doesn't do much good to look cash and short term investments without also looking at debt. CEGE has MORE debt than cash & equivs. In fact all they have in net tangible equity per the last "Q" report is about 37 pennies per share ($32 million / 86 million shares). That's about 2 "Q"'s worth of losses. Stock price is anticipating the burn rate. Basically CEGE is done. OK, OK, the company will probably continue through terrible dilutions, the insiders will get paid, and the stock will trickle down to approach zero. Keep in mind when I say a stock is done, I'm talking from the perspective of an investment, not whether they can keep paying insiders and keep the lights on.
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