ITE vs. ELAS re-cap:
ITE purchased 281479 shares of ELAS at $5.33 U.S.
We started with $14,500,000 U.S.
Our ELAS investment was approx. 10 % of our worth.
Our cash on hand is US $4,500,000
Our burn rate is still very low at about $US 56,000/month
If ELAS goes off at $US 20/share (it may very well do much better than that) our US$ 1,500,000 becomes US$ 5,629,580
and our US $14,500,000 becomes US$ 18,629,800.
That would mean the ELAS investment rose to 375% and our "net worth" rose to 121%
This is all based on ELAS at $ 20. Let's see how it does as it comes to trade this week. |
