OTCPK:CODMF - Post by User
Post by
Cincodemayoon Mar 03, 2015 1:32am
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Post# 23482931
Screwed by Bharti...............again
Screwed by Bharti...............againhi jade - long time! sorry to see cod get raped by F&M. This is an awful purchase price by all measures. SMC has a market cap of $9M and a book value of $22M. They value COD at $4M on the acquisition. So how is it that we get 0.05 shares of SMC for each share of COD? Doesnt that mean that we are getting approx 1/20th of SMC, which represents 5%. Wouldnt 5% of $9M be $450K valuation of COD, not $4M? Even using the $22M book value, 5% still represents only $1.1M. How do we end up with 5% of the newco SMC with such a low valuation. in other words if COD were worth $4M then the newco of SMC would have to be worth $80M, a FAR cry from the current valuation of $9M. Some messed up fcuking bullshirt if you ask me. any time you deal with bharti, you can assume you are going to get ripped off. but i thought more of pearson, alas i suppose his hands were tied. am i missing something? jade when you answer, try to step away from the booze and practice your best spelling. lol haha. some things never change - like me brother. whatever, im not too upset about cod, im down about 90% already so i have written it off. i just hate that bharti gets away with this apparent self dealing time and time again.