Hi Sigmund and ALL,
I wanted to share a few thoughts on the new co. (I believe it is going to be named ONCOMETRICS).
1) There is no relationship between market cap of this stock and the value of this deal or any of Accumed assets.
Regarding market caps please refresh yourself by looking at my post # 1106. Here you can see that acmi stock is selling on the public auction block for as little as 1/12th of its peer group. I think that is a real apples to apples comparison.
This stock is a steal, the peer group stocks are probably better shorts, in the near term.
2) I dont believe that there has been any transfer of ownership from acmi to Sakura or others. If that were the case I believe it would have to be mentioned in the public announcement.
Deals like that are fairly common though; usually involving a stock sale, with dollars moving into the sellers balance sheet. Intel does this all the time, taking equity positions in small companies. In cases like that, there is actual equity dillution.
3) Ultimately the financial structure of this deal will be public knowledge when the SEC filing is posted.
My read on this deal is that we have lost nothing from the balance sheet of acmi. Assets transfered to Oncometrics will be assessed at their current value on the balance sheet. Our ownership of at least 50 percent of Oncometrics will, on the balance sheet, represent the value of the assets transfered.
4) The cash component of this deal (representing other company contributions) is their slice of the pie and represents their percentage of ownership.
These funds will be placed into working capital. Accumeds contribution is in hard assets such as real estate, plant and equipment, and paid in capital which represents costs associated with products already developed, which they are throwing into the pie.
5) We have also gained nothing, from an accounting stand point. The net equity of acmi has NOT changed (if I am reading this deal right).
6) What we have gained though is the GREATEST THING. Intangible value, which won't be shown on the balance sheet, but will likely be shown in the stock price. The perception of SYNERGY and GREATER awareness of Accumed should help boost our share price.
regards, C.S. |
