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Monday, March 23, 2009 10:49:39 AM
Lots of speculation but here is what we know:
The deal was struck on 3/13/09 according to the PR. The price at that point was .016. The buyer bought 300M as a 1% down payment.
300M x .016 = $4.8M
If that was 1% of what they considered the value of the company then:
$4.8M x 100 = $480M
$480M / 2B shares = 24 cents per share.
This guess assumes the offer was not inflated to "sweeten the pot".
Buying this today at less than 10 cents might be the best trade you made this year.
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