BioNeutral Group Inc. (fka BONU)

[JPS02]

That is a $31.5 million undiscounted valuation gain on the cost of the intellectual property, net of estimated/theoretical lease costs that they will not incur, see below:

we increased our budgeted operating expenses by an amount that we believe is approximately equal to theoretical lease costs we would incur had our parent company not provided us with facilities

It would be interesting to see what the valuation range would be if they redid the valuation now with any new knowledge that they have and without theoretical lease costs.

It would also be interesting to see what the high end of the valuation range is.

Go BONU!