well, we're currently at a premium to book assets (there are no measurable liabilities other than payroll and rent, non-BK legal fees, etc.) and NOLs aren't worth a dime as it sits today (there is future potential value, but evaluating their worth today is akin to witchcraft - lots of ways to do it, and no one method is inherently more accurate than any other.) Most financial institutions trade at an average of about 0.8x book value right now (CITI is at 0.6x, BAC is 0.5x, Wells Fargo is 1.4x). At $0.90, we're at about 1.5x given available cash of $125MM and 200MM shares.
We need earnings to get real support for the current market value. NOLs are only valuable when there are profits to offset, so the more profits we show, the more the NOLs can be estimated to be worth, and the greater the market will be willing to pay per share. We'll get a nice double-whammy from profit - the share value will go up simply because of the profit alone, and the share value will go up even more due to the anticipation of NOLs being "utilizable" against those and future profits down the road. Should be fun to watch. I'm still rather disappointed it's trading so soon before those earnings can be generated, but that's just me.
I have a social disorder (although it's not quite full blown Asperger's), and can come across differently than intended...if you're offended by something I've said, I probably didn't mean it with such animosity - please take it with a grain of salt. :)
AI
