Bob - to be honest, I have been focusing on ANYI rather than BANY, primarily because the of the credibility of the management. ANYI has some hard working, technically trained, well intentioned leaders who removed Sitra and Yost from the ANYI board because they don't want to be burdened with having any association with two individuals that are currently under indictment for stock fraud by the SEC. Look at how well ANYI has done since they took those actions. Regardless of their guilt or innocence (presumed innocent) BANY will be weighted down until both of their cases are cleared up, and even if Yost is found innocent, BANY has to pay ~$400K in his legal fees. I think it is becoming more and more clear that ANYI is a much better run company that BANY, and ANYI has learned from their mistakes with BANY in the past.
Anyway, that is why I focus on ANYI rather than BANY, but with that said, if as expected BANY locks up 600-700K of their BANY shares, then BANY will realize a stock value worth from those shares equal to the price of the ANYY shares divided by the BANY float. Another problem is that BANY issues more new shares every year than they sell product. I recall the float being up to ~10,000,000, but it seems to increase by almost 10% per year, so who knows what it'll be a year from now.
Personally I would discount BANY's intrinsic value, and credit its worth as the value of ANYI/BANY's float, or $2.06*700,000/10,000,000 = $0.144 per share, which is roughly where BANY is trading right now on the pink sheets. If ANYI doubles, BANY should too. I'd also give BANY credit for another $.05-.10 for getting off the pinks, which may seem small, but is actually a 30% bonus over where it is now. Perhaps toplisting will be a hit for BANY, and that could add more value, but the case business has a long way to go to become credible again in anyone's eyes.
Hope this helps, just my opinions, but it could happen - we'll see |
