Close out NAV I think the close out NAV is closer to $1.90 to $2.00. The Company has about $26 million or $1.30 per share in cash and will generate cash through close out. But close out costs are $6 million about 15 months from now. Cash flow will be about $1.5 million a month or a total of $22.5 million if the Oakville plant ran at capacity through that time, but in all likelihood it will shutdown for its normal 2 weeks in July of this year and again next year, and cash usage during the 2 July's is likely $1 million instead of $3 million generation, so think of $18.5 million generation until the plants shut, bring the total to $44.5 million. Head office shut down costs are over and above the $6 million for Oakville, and will come to about $3 million I expect. As the shutdown approaches and Ford is launching its new vehicles in Oakville, expect volumes to taper off for a the last few weeks Automodular is operating, with lost revenue of $3 to $4 million. I come up with a final tally of about $38.5 to $39.5 million or $1.90 to $2.00 per share. Any GM settlement should add something, unless of course GM is the successful party, in which case AM will have to pay GM a million or two of costs.
That is all assuming things run smoothly. If there are any setbacks they come right out of the equation and realized NAV will be less. I think any price over $1.40 to $1.50 right now is a bad bet.