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

To: anializer who wrote (34713)	6/7/2009 12:18:17 PM
From: Spekulatius	Respond to of 78748

RF - tangible book: TBV (present): 10.6B$ Shares Present): 700M Dilution: 600M shares @4$/share: 2.4B$ TBV (after dilution): 13B$ Shares: 1.3B$ BV/share: 10$ Some of the capital raise will be in terms of A debt exchange, which i think will be accreditive to book value so my number may be understated. my 0.5 TBV assumption assumes some losses due to reserve increases already, although their reserves slightely exceed non-performing loans. FWIW they were profitable the last quarter - 0.04$/share. I do however now expect them to make a huge reserve boost to clear the deck. phx.corporate-ir.net