Was ZEX Worth $335 Million Last Summer...IMO NO !...Just Like it is NOT Worth the current Low Valuation Below Cash....Somewhere Inbetween Perhaps.....
Last June ZEX had a Market Capitalization of $335 Million. Cash in Bank @ that time was $54 Million...Market Cap was 6x its Cash Buffer ???
Someone took Posession if a Lot of Shares last year at this time. It is conceivable that a Short was taken out on thsi stock and that SHORT COVERING is now in Progress to close the Position as the Bottom is cleary in here.
During the quarter ended June 30, 2011, the Company received a notice of exercise in respect of 31,175,000 of its outstanding warrants. Each warrant was exercised at an exercise price of approximately $1.034 per warrant and entitled the holder thereof to acquire 1.0 common share of Zodiac for each warrant held. The Company received total proceeds of $32,250,000 upon the exercise of these warrants.
Currently ZEX has a Market Cap of $16 Million Dollars and Cash of $22 Million Dollars as of Most recent Q filed Last Month. Shareholder Equity is $114 Million or
.32 per share.
ZEX Trades Now "BELOW" Cash VALUE - Prospects are just as Good as they were Last year @ this Time
This is My Value Play for the Summer 2012. ZEX was Sold Dowm like Rest of CDNX...BIG REVERSAL TODAY...EUROPE INDICES SOARING - DEAL REACHED ! SMAL CAP Gonna Jump BACK