RE: RE: RE: RE: WiLAN Enterprise Value (w/30% AnnuI agree Candelwin, we come up with similar price targets but there's one big difference. I think underlying your model (at least my interpretation) was the need to bring in new business. Mine doesn't, it assumes only the contracts that have been signed to-date. This is important for two (probably obvious) reasons:
1.) They are more 'certain' and thus should be discounted at a lower rate (I'm assuming 5%).
2.) There is still plenty of up-side potential from new business that should be factored into what a reasonable stock price for WIN should be.
PS. My model also calculates a $13.4 base stock price (without factoring in new business).
Chi.