GREY:HRIVF - Post by User
Post by
factoryon Jan 07, 2010 9:40am
290 Views
Post# 16648748
way over valued
way over valuedShares outstanding with warrants exercised: 649M + 150M + 40M = 839M
Now trading at 73 cents so market cap $612M
Prior to dilution, 649M trading at about 46 cents so market cap 649M * .46 = $300M
So now the market cap has doubled, increased $312M and they only received $57M from Polenica and reduced debt $20 something million?
No way is 73 cents justified. Not just over valued, way over valued. 40 to 50 cents is FMV.
Its funny how traders just bid stocks up with no attention to reality and underlying value. Things like dilution get ignored. But eventually, reality prevails and it will correct.