RE: I'm surprised at the upbeat mood.I agree with you sir (but I think you meant that you share would worth $623/share),
I was expecting a NAV of $2.87 as at December 31 but it is only $2.54 as per the news release (I'm not an expert, maybe my expectations were too high). I still think that this stock is under evaluated due to the fact that to me, a company should not be trading based on past results (in this case, its NAV) but based on futur results (in this case, next year's NAV). I'm not too excited with Q4 results. However, the CEO (Sheldon I.) bought a couple of millions of share since August which is always a good sign. Also, Pinetree bought a lot of cheap shares during 2009 and they got really cheap warrants, which is really good for the future. Even tought Q4 results are not spectacular and we might see a drop in the share price tomorrow (I hope I am wrong), I will still hold my 7,700 shares because I am really confident with Pinetree's future.
But as other posters said, Pinetree made $1.19 a share during 2009, which is really good for a stock trading at $1.84.
Good luck to all longs, - shorters, I hate you all - nothing personnal :)