Not if you do the math.
15C / 662M x 255M = 5.8C
255M OS and 662M fully-diluted does make a big difference on what is risk in the trade; so do you really want to follow the market at risk of a buyout decision that includes those 405M warrants?
Do the Math and hope Chaudhuri doesn't decide to go private at 7 Cents acquisition, justified with that dilution.
Oh....and the math on 18 cents at OS is 7 cents fully-diluted. Maybe the market wants to play the game by the hedge's rules. Ignore all filings and public statements that contradict anything that makes sense on real valuation It's called a sucker play (IMO).
Have you been reading the news articles on the California QAF "RAKE-OFF" by the State to it's general fund to balance the budget. Maybe you missed that problem and more financial risks coming. Example: Did you know that one of the hospitals is now operating at 1/3 of it's full, rated capacity due to loss of admissions. Not good. That hospital is at risk! That situation isn't getting better with the trend in lower admissions, and those stats they have filed.
I have the stats on all four hospitals, quarterly and annual, including fully-audited reports....all the way back to early last decade. You won't find that detail at SEC Edgar. I told everyone I was tracking and knew why Tenet dumped them at $70 Million back in 2005. They weren't the only big chain to exit Orange County due to losses.
I'm not here to beat them up on the problems. That's why I haven't given them too much static on what I see in the numbers. However, this is a possible end-game on buyout. I'd be less than helpful to traders in not pointing at elements that hurt valuation on any buyout decision.
I think Chaudhuri wants them and he obviously is doing websites to make the point on the subject, MINE!
News 
Market Data 
Discover 
