RE:RE:Odd I'll explain exactly why it's lifting off. When it went down it was artificial low that was never acceptable by any means. Book value is 200 million for this company. So bring at .17 is not even half book value. It was held down because the shorters knew they could push it down during rights offering simply because people could excercise the rights and than just sell the normal shares for huge profit if the SP was say .30 you make
massive amounts of money. Sooo they had to keep it basically in match with the rights conversion. Now that it can't be done we will go straight back to we're we left off minus dilution +21 million in cash dividend by shares issued( example 140 million shares added 140 divided by 21 is basically .07 cents a share. Ok so now we're trading basically .55-60 before rights offering which before new shares issued was a market cap of 100-120 million.
now question is were is a market cap of 100-120 million now that there is 350 million shares (140 million added) plus add the .07 sp conversion because of the 21 million in cash added to the balance sheet fair right??
.35 is 120 million market cap + .07 cents for the 21 million cash raised
So this should return to .42 give a window for wiggle room lol .40-.45 SP is were they should be at minimum and that's undervalued because they're book value I believe is 158 million plus future growth so ya.
my thought my research I hope it makes sense it not bang on it's just napkin math but it's quite accurate. Hope this makes sense to you readers just thought I'd share that. Cheers