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Strategies & Market Trends : Value Investing

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To: blankmind who wrote (13601)	1/6/2002 11:11:41 AM
From: blankmind	Read Replies (2) of 78528

I'm coming up with $13+ per share for SOFN. I can't help it if they're trading at $2. - SOFN's (Softnet's) true cash position - per their 10K just filed on 12/28/01 - is over $3/share: -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 - then there's the $400 mill in loss carry-forwards; which at 40% federeal is equivalent to $160 mill; divided by 25.2 mill shs is $6.35/share - then you have the broadband satellite segment which appears to be doing very well & can hopefully fetch $100 mill; which is $4 share - then you have certain intangibles, like the fact that SOFN is NASDAQ listed company - if you add up each of these, you get $3+6+4=$13+ intangibles - so what is the real value we'll get? I don't know - but we'll have a clearer idea by 3/31/02; & I'm willing to bet that today's $2 stock price will be laughable

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