TexasTom: I believe your reference to $9.20 book value related to when the outstanding share count was around 9M shares. At last count it was about 20M, before they gagged their TA. For me, that was a very bad sign. Investing in any company where you don't know the share count makes it impossible to even estimate the value per share.
Also, where in heck did you get the $61M in gross income? The last audited results (with a flaky auditor) showed a bit over $5M in earnings (I think it was $5.4M), nothing close to $61M.
So let's generously assume ~20M in outstanding shares x $0.16 = $3.2M for the market cap. Assuming 5.4M in earnings from their old audit, that's a PE ratio of only 3.2M/5.4M = .36, which is ridiculously low. A reasonable PE of 10 would imply a PPS of about $2.70. I'm still hoping for audit results by around mid-May - about 6 weeks after end of their fiscal year on 3/31.
If a company is reputable and you can believe the numbers, then these ratios can really help in understanding what a company is worth. The problem is that NWOL has no credibility. The Syria deal could be lost at any time (Syria changes their minds every month or two) and the Saratov deal hasn't been closed. Their earlier comments regarding the "help" they were going to give to burned stockholders have gone nowhere. Now the TA is apparently gagged so dilution could occur without our knowledge.
My personal goal is to see a substantial bump in PPS if and when they complete the audit and provide what I hope will be a string of PRs. At that point I expect to get out, whether the stock is at $0.25 or $1.00 or $2.70.
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