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Friday, July 29, 2005 10:47:41 AM
There is no credible argument that this deal was good. I am assuming the claim of $1 Million price tag as reasonable value sticks until somebody can show otherwise.
Also it is bad news that there were more than 16 million shares of nowauto from my reading of the release.
The company has not met any signficant promises that I am aware of other than acquiring Sunburst. This current deal being done I don't count as an accomplishment.
The other side of the equation is I think the car lots are better businesses than the bashers claim, but I don't know it for a fact.
I don't think Scott could go to jail if he is not giving honest estimates, sad to say.
Taking all the facts as now known, I think a price range of $1.00 to $1.70 is reasonable.
sam
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