PRCY - ANY BODY HAS ANY NEWS ON THESE Message Board

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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE

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To: Vip who wrote (282)	12/9/1997 11:44:00 AM
From: Peter H. Proctor	Read Replies (4) of 670

You are right about markets being inefficient---A quick MBA-type calculation, assisted by the little woman: Market cap is about $11 million today. If memory serves, they have about $12-15 million in the bank, plus say 5 mil in property, etc. Present tax-loss carry forewards are worth about 15 mil, depending. So the real value of the company is about $30-35 mil. If they run thru the 15 mil in the bank, this is worth about 5 mil extra in carry forewards. So, even as a defunct shell, the company is worth $20-25 mil or so ( all discounted a bit, of course ). In any case, roughly twice the present market cap. BTW, don't get ideas,-- They have a poison pill in place <G>. But it does represent a lowere limit on what you can ( perhaps this is the wrong word ) lose... What surprises me is that the M&A department of some drug company hasn't snatched this one up. Dr. P

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