Amy, I've done a little DD on this one and it seems it is still under the radar. They have a very thin float because the stock appears to be in very strong hands. Their 10% stake in yupi.com could be worth as much as $200Million, if Yupi gets a STRM market cap, if and when it comes public. According to a source close to the company, last month Yupi's page views were 80Million vs STRM's 60Million. My caluclations show FUTR has a cap of around $100 Million. There is a huge option hanging out there, 5.5Million shares at $2. That is 45% dilution, but apparently is the price you pay do get business done in Latin America. So if yupi does get a market cap near $2Billion, and the options are exercised, that could be worth $16 per share to FUTR. FUTR has another $25 Million in cash, so that might be another $2 per share fully diluted.
I still think the story is early here. The risks are huge as this is basically a developmental stage ISP in Latin America, but IMHO the Yupi position provides some level of saftey.
Disclosure: I am long at $17. My comments should not be used as investment advice, please conduct your own due dilligence before using any online comments.
Goolie |
