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redman_2014

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redman_2014

Re: None

Wednesday, 03/10/2010 2:25:53 PM

Wednesday, March 10, 2010 2:25:53 PM

Post# of 103
Bought 30,000 CCLWF @ 1.34

Started a position. A little late to this one and had to pay up a bit, but the underlying value of the common(CCLTF) easily allowed for this price and wasn't sure if I would get it any cheaper in the coming days and weeks.

$7.5 strike price.
2.5 yr timeframe.

10M shares outstanding
$7 common stock price
$70M market cap
$23.7M expected 2009 net income
3x trailing P/E

Trailing P/E of 6 takes common to $14/share, and warrants to $6.5/share minimum. That's a 100% and 385% appreciation respectively.

-Adam


"What goes down must come up" Inverse Newton

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