Cadus Pharmaceutical Corp. (KDUS) Message Board

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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS)

KDUS 1.600

0.0%

Jul 2 5:00 PM EST

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To: scaram(o)uche who wrote (607)	10/24/2001 11:22:55 PM
From: Tomato	Read Replies (1) of 1833

No argument over not caring about the current share price which doesn't reflect intrinsic value. But I'd prefer getting cashed out sooner rather than later and having a bird in the hand. I could dollar cost average into T/FIF stocks like LEXG and BTRN that are way down from my purchase prices. These are the assumptions I'm operating on: 1. That the potential OSIP /Solvayroyalty play part of KDUS is iffy (correct me if I'm wrong). 2. That the tax loss carryovers are probably not worth much. Without looking it up, I recall it's around $2/sh, but that means around 1/3 of that at 33% tax rates, and then you have to discount that. Plus some atty. posters have mentioned that to benefit from the carryovers is difficult because the tax rules are daunting. 3. I figure $1.88 or so cash/sh., maybe 50 cents for Axiom shares, maybe 20 cents for the tax carryovers....Maybe $2.50/sh. rounded off value now. No idea what you'd estimate for the potential royalties - I think you mentioned that you thought at one time $3 value for the stock right now (or right then) but changed your estimate to closer to $2?? I'd guess $2.50. 4. There's the old CEO's lawsuit that's burning up attys. fees and there are attys fees and accounting fees for the SEC filings...I'm not sure but I'd guess there's possibly a small negative cash flow now, depending on what kind of interest they're getting on the cash stash. A good reason to want to see action sooner rather than later. Time seems against us unless the royalty thing comes to fruition or Axiom's value goes up. Don't know the odds there. Best part is that with all the cash it's easy to sleep at night holding KDUS (assuming that the ex-CEO won't get punitive damages in his lawsuit and bankrupt the company...think/hope that's a joke...) I'd still feel better if Glass returned your call(s). But I guess one who has a Glass leader shouldn't throw stones. ;-)

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