Soko Fitness & Spa (fka SOKF)

[viking86]

all in all I feel that they got a good financing deal that enables them to rev up expansion plans and leave competition in the dust. I like the fact that it's only 18% share dilution (albeit at a 30% discount to current market price) plus:

no warrants, no placement agent fee (typically 6% of proceeds) or overallotment of shares, 14-month delay of investor's resale right. So that saves us shareholders lots of additional expenses.

On a trailing eps basis, looks like they paid 7.9x 2009 eps which is reasonable for an OTC stock, with no sweeteners.

I took a look at some recent PP with some other stocks to put things in perspective:

Stck Date of PP Shares Price Sweeteners 09eps epsx
CPQQ Nov 30,09 4.167M $1.20 1M warrnts 0.280 4.3x
PUDA Feb 11,10 2.855M $4.75 15% ovrallt 0.681 7.0x
CNAM Apr 21,10 1.538M $6.50 1.54M wrrt 0.507 12.8x
SOKF Apr 29,10 3.125M $3.20 no wrrt/fee 0.406 7.9x