WCAP has a major holding in CMRC
184,191 shares w/basis of $1.4M worth approx $46M today.
Also hold shares in COOL, BLSW, ESTM, ROWE, WGAT, MPTH, JWEB, and MODA. Total public portfolio worth approx. $80M. Market Cap $100M.
Private placements in Vivid Semiconductor, TeraStor (along w/Paul Allen), The Wedding Network, MarketFirst Software, Internet Gift Registries, Screaming Media, and more. Also investments in NYRG & PVN Net which have filed S1's.
IMHO, WCAP is undervalued and should trade $30+ based on historic valuation of 2.7-3X discounted B/V. It has not caught up w/CMRC's rise yet but catalysts are coming.
PVN IPO wk. of 11/22. S1's can come at any time from other holdings. Earnings due by 11/15 and should be $3.50 to $4.00 per share for the quarter. IMHO this stock is about to break the $20 resistance and head north of $30. WCAP has never been as cheap relative to its holdings. Most still consider it a COOL tracking stock and are unaware of the value of CMRC and its recent equity investments. biz.yahoo.com
Good luck all,
TJ |
