Over 20% annual return? I don`t think I want you to do my tax return this year. How did you come up with that figure?
I come up with a little less than 7% and with compounding, it would probably be 6 or less.
2006 cash on hand reported on their 10K was $1.49 mil. On Sept 15, 2006, they had a private placement that added $2.36 mil. for a total around $3.85 mil.
2007 cash on hand was reported as $2.24, so a pretty good average for the year would be around $3.00 mil. I`m no accountant, but if you can use averages for estimating return I`d say it was closer to 4.5% annual return. With compounding, it would probably put it down nearer 4%.
Am I in the ball park?
Thin
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