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Strategies & Market Trends : Value Investing

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To: rjm2 who wrote (13523)	1/2/2002 9:01:42 AM
From: blankmind	of 78528

RJM - you almost made me faint: - i think SOFN gets an offer of between $5-10 by 3/31/02 - in addition to everything else, their broadband satellite segment is doing extremely well - but the 10K - just filed - says: "The total number of employees of the Company has decreased from 552 as of September 30, 2000, to 44 as of September 30, 2001." - Here's SOFN's true cash position - per their 10K just filed on 12/28/01: -total curr assets: $79.5 mill - restricted cash & other non-curr assets: $8 mill - total liabil: $11 mill - shs o/s: 25.2 mill - therefore: $76.5 mill/25.2 = $3.04/share - but you & I know there's going to be winding down & other expenses; so figure instead of $76.5 - make $66.5 mill - & you get $2.64/share in liquidation - of course, none of the above counts the $400 mill in loss carry-forwards - so what is the real value we'll get? I don't know - but in 90 days we should know

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