NAV Calculation Jan 7, 2004On August 22nd, 2003 DVX was trading at $.11 and the NAV was $.21, $.17 fully diluted.
On September 28th, 2003 it was trading at $.125 and the NAV was $.22, $.19 fully diluted.
On January 7th, 2004 the bid is $.15 and the NAV is $.32, $.27 fully diluted.
Using the August 22nd and September 28th ratios of price to fully diluted NAV we should be trading at just under $.18, the offer price coincidentlly. Add to that the positive momentum we are experiencing in the NAV and I think we should be above $.20.
CMG and VMY, VMY with warrants nicely in the money, are showing nice price appreciation at this moment. IMP.A made a nice move not too long ago.
I continue to buy, last earlier this week, 12,000 at $.155, 4,500 at $.175. Currently at 71,500, would like to accumulate 100,000 at these prices. Will be in again later this week or early next, may even take the 20,000 out at $.18.
Mike
PS It has been lonely here, I think that is about to change.