Vitalsigns...
No problem... You are normally right on the money with all your posts but mistakes happen to the best of us. I think we were all under the impression that they owned those shares.
I didn't like finding and pointing out the error since I am a shareholder but since I gave a "heads up" to several people I thought it should be cleared up. The stocks still looks like a great deal at these prices. With the cash from the LUMM sales this quarter they will have money to do more numerous deals and they have several private companies that look very solid and should have good IPO's (especially Softquad). Plus they have a some very nice looking holdings...
Just my opinion but to be fair I think the company should be valued based on the GENE.U holding and not on the indirect VGIN holdings since many of the other companies might have undervalued assets that are not factored into the price.
Private Companies
Softquad 35% interest = 1,250,000 (cost)
Visible Decision 40% int = 1,100,000 (cost)
Online Direct 2 % int. = 150,000 (cost)
WorldVacations.com 24% int. = ?????
Public Companies US
LUMM 1 ,000,000 shares @ $25 Us x 1.47 = 36,750,000 Cnd
(Note: the company has been selling these shares since the last quarter so some of these funds may be held as cash)
Public companies Canadian
BFG.cndx 70,000 shares @ 9.70 = 679,000
ESL.T aprox 600,000 shares @ 6.70 = 4,020,000
MNTX 2,200,000 shares @ 1.25 = 2,750,000
NSII 4,000,000 shares @.40 = 1,600,000
ILX.cndx 500,000 shares @ 0.52 = 260,000
GEVE.U 1,800,000 shares @ 2.35U.S = $6,200,000
(Note GEVE.U Book Value = $9.50 Cdn based on VGIN and PNP holdings)
Total Book Value
Assets 54,759,750
Shares out. 10,000,000
Equals $5.50 share in Net Asset Value
Current trading price 3.05
Best Regards
KEITH |
