All Over But The CryingConfirmed no interest in Ifire whatsoever.
Must sell off Ifire assets piecemeal with probably value of $5 million. They will try to sell off the intellectual property separately, but likely is worth zero.
WED's Value
cash and Equiv. $20
IFire Fire Sale: $ 4
Tax Assets: $ 4
NCS Shares: $16
Cash Burn -$ 2
Severance to Pay -$ 2
Total $40
Wed is worth $0.43 per share based on current value of NCS. It was interesting to note that they will also consider to sell off NCS. My guess is that it would take +$2.50 per NCS shares to convince them to sell since NCS has $1.70 in working capital and fixed assets worth $0.70. In this case WED is worth $0.60.
The good thing is that this joke of a company and management are almost finished and those brave enough to stick it out for another Q will likely get around $0.50 give or take. I just hope management does not decide to take what is left and do some more investing on our behalf. Given they blew $300 million on Ifire and now have to fire sell the assets to get $5 million, I sure as hell do not what them doing anymore investing with my money.