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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (21403)	5/28/2005 3:34:07 PM
From: Carl Worth	Read Replies (1) \| Respond to of 78748

perhaps, though COSN is still a company with no path to profitability, that is trading a little under cash on hand their burn rate has been reduced sharply, but i don't know where the upside would be you had TUTS, a company with an inferior balance sheet that also has shown no ability to turn a profit at any time in the near to medium term future, offering to buy COSN with 6M of their shares, but i would argue that TUTS shares are still overvalued at 3 bucks, not to mention the significantly higher price they were at when the deal was announced, so they were and would still be using an inflated currency to buy COSN's hard assets at a discount...no wonder the deal eventually failed perhaps another suitor will come along, but the terms of any new deal are unlikely to be much better, given that COSN has ceased most operations, is basically a lame duck company now, servicing existing accounts until they go elsewhere, and has burned off 10M of its cash just since the end of Q3 '04, though again that burn rate has slowed significantly in the most recent quarter