BOOK VALUE PER SHARE: Using info from the 2010 10K, here is the range of Book Value per Share. This doesn't include any change of assets or liabilities that may have occurred since 12/31/2010. This is based on information that is currently in documents filed with the SEC.
The 10K does give a 1st Quarter update regarding share structure which will be in the 10Q on Tuesday as well.
At best: $0.255 with a 175,490,665 O/S
At Worst: $0.02 with a 2,000,000,000 O/S
Here is my Data for the Book Value per Share.
As of December 31st, 2010:
Total assets: 71,928,313
Total Liability: 27,014,766
As for the O/S, the 10 K shows:
Common stock; $.001 par value; 2,000,000,000 shares authorized;
10,964,272 as being issued as of 12/31/2010
This is after a 1:200 R/S
In the first quarter of 2011, the Company issued 164,526,393 shares of common stock pursuant to the conversion of 403 shares of Series J Convertible Preferred Stock. Unless there was additional dilution known to have occurred between the time the 10K was issued, April 26th, and now, then this is the most accurate number I can put together.
With that info, the total O/S is at 175,490,665
Soooooooo,
(71,928,313 - 27,014,766) / 175,490,665 = 0.255
Now, lets say the O/S has been diluted more. Lets say it's at 500,000,000.
That would give a book value of .089
Lets go further and assume its at 900,000,000
That would give a book value of .049
Now, lets assumed the O/S is maxed out at 2,000,000,000
That would give us a Book Value of .02
So, in all, .0006 is pretty much absurd. Worse case scenario we should be at .02
With profits being recorded, regardless of the size, they shouldn't be sub-penny. Let alone 4 digits. There are far worse companies with far better share price.
Anybody, feel free to correct my calculations.
