Updated Book Value as of December 16.99
Pica book value end of day Dec 16.99
Book value calculations
I will use purchase price on our private companies even though that may be severely
undervalued.
Private Companies
Softquad 35% interest = 1,250,000 (cost)
Visible Decision 40% int = 1,100,000 (cost)
Online Direct 2 % int. = 150,000 (cost)
Public Companies US
LUMM 1 ,000,000 shares @ $23 1/8 Us x 1.47 = 33,993,750 Cnd
VGIN 1,000,000 shares @ $28 Us x 1.47 = 41,160,000 Cnd
Public companies Canadian
BFG.V 70,000 shares @ 9.70 = 679,000
ESL.T aprox 600,000 shares @ 6.50 = 3,900,000
MNTX 2,200,000 shares @ 1.25 = 2,750,000
NSII 4,000,000 shares @.37 = 1,480,000
Total Book Value
Assets 86,462,750
Shares out. 9,000,000
Equals $9.60 share in Book value
Current trading price 2.95
Current shares trading at a 69.2% discount to book value
Lumm looked to have formed a bottom today with a nice reversal in the afternoon, VGIN is still strong and heading to $30 . All that is missing now is for investors to realize what they are getting when they buy shares in Pinetree.
Vitalsigns |
