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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: RockyBalboa who wrote (2505)6/22/1999 6:11:00 PM
From: jjs64   of 7056
 
Exactly, you can look at it either way (1/2 empty or 1/2 full) but since Nextlink gets the only asset of value that SPDE has, my take is that they bought the spectrum and now have a synthetic call on the equity struck at $10.

Another view is that they essentially paid 30mm for the spectrum.

They spend 20mm for spectrum
They buy 2mm shares @10 each = 20mm
But, the share are only worth $5 each, so the "goodwill" involved (purchase price over market price) could reasonable be assigned to the spectrum asset ($10mm) and written down over time.

And, just to keep this on topic. Dorian Reed....bring in on!

Buyer Beware!
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