I added a few more in the low $1.50's. Looks like these warrants were not all in friendly hands and won't be cashed. It is not like we need more cash or dilution so I am not complaining. Just means we have to wait for April 1.
Update - closing prices on Friday, March 24/00
1,250,000 shares of PN (NYSE) at $12.19US = $22,550,000Cdn
325,000 shares of UBRT (NASDAQ) at $6.00 U= $2,880,000Cdn
2,250,000 shares of CLP (CNDX) at $4.45Cdn = $10,000,000Cdn
80,000 shares of ONT (NYSE) at $18.75US = $2,200,000Cdn
2,700,000 shares of GNI (CNDX) at $.55Cdn = $1,490,000Cdn
3,000,000 shares of NEGY (NASDAQ) at $3.00US = $13,320,000
1,000,000 shares of LTG (CNDX) at $2.90Cdn = $2,900,000
675,000 shares of EMA (NASDAQ) at $21.13US = $21,100,000
Total Investments = $76,440,000
1,500,000 warrants (.60) of CLP (CDNX) at $4.45 = $5,775,000
750,000 warrants ($2.35) of CLP (CDNX) at $4.45 = $1,575,000
24,000 warrants ($12.88) of ONT (NYSE) at $18.75 = $208,000Cdn
1,000,000 warrants (.75) of LTG at $2.90Cdn = $2,150,000
Present value of warrants if cashed = $9,700,000
Cash - $13,800,000
50% ownership in the Natural Gas Gathering System - $6,000,000
Other properties, plants and equipment - $3,000,000
Total Liabilities - $1,500,000
Total Assets - $108,900,000 - $3.10/share
Note: this does not take into account the taxes paid on gains and using today's exchange rate of 1.48
Best Regards
KEITH |
