There is about $4-5 of cash behind every share, so at today's close of just under $10, the real valuation of MIFGY as a software business is just under $6.
The thoughts presented below are merely opinions so if someone else out there has better ideas please speak up !!!!!!!!!! I would agree once again that all the telltale signs are out there of collusion on a large scale to drive share prices down. With such telltale signs, the SEC should clearly investigate this one with a fine-grained microscope. If collusion is occuring, those doing such are acting to unfairly benefit at the expense of existing and prior stockholders. Would that not be illegal ???
As much as one might suspect collusion here, even more pronounced is the lack of voice and direction on the part of MIFGY management. Are they on vacation somewhere out on a cruise boat circling around Atlantis ???????????????????????
Just examine how badly they have allowed this situation to get. An apparent policy of silence allows the collusion, or whatever you care to name it, to run rampant. There an umpteen reasons why the merged companies can leverage the strengths and software assets of one another to build a better future. It takes no brain surgeon to figure out a good and compelling strategy. That process should take about one week and should have been done at least 3 times over before the acquisition was finalized !!!! But, it will take leadership.
Has anyone out there heard a peep from management ???? If so, was there anyone else in the room ???? What did they say ???? If so, it is certainly the best kept secret in town !!!!! If management did not know what to do with the acquired ISLI assets, then why did they make the acquisition ?????
Look at the numbers behind why the stock price makes so little sense. To the $4-5 of cash per share, add the share value of the PVCS franchise which could be reasonably estimated to have a scrap value of $10 per share, then add the share value of the Data Direct franchise which could be reasonably estimated to have a scrap value of $5 per share, then add the share value of the Cobol tools franchise which could be reasonably estimated to have a scrap value of $10 per share. The total comes to a scrap value per share of $29. Multiply that by some factor greater than one for the value as a going business, and the utter silence of MIFGY's management becomes even more outrageous.
The way things are going some scrap value expert is going to come to town and buy up a controlling interest in MIFGY on the open market before it dawns on management what has happened. Such an action would certainly be masked by any possible collusion going on.
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