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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (34430)	6/3/2009 7:21:25 AM
From: anializer	Read Replies (1) of 78748

Regarding OCNF, now that the share issuance to YA Global has ceased, has it affected your outlook at all on the stock. I think its still cheap and a decent outfit. Yet we won't see the shareholder equity as adjusted or EPS that accounts for the 90 million shares for at least 2 quarters. This quarter ended June 30, I assume the weighted average number of shares will not reflect the full amount of shares outstanding. Roughly based on the last balance sheet - additional shares, and capital proceeds from the sale, I show tangible book just over $4.00. Some assumptions though. On FREE, I show tangible book just north of $6, the big difference relating to FREE's EPS which is better than OCNF's.

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