irridium valued at 591 million usd, page-6

Nice rise to 1c today.

Extremely undervalued at the moment - the company has been handed a 33 Million AUD lifeline as part of its Irridium investment. As at this morning that's a pre-tax value of almost 10 times the market cap of the company.

On this transaction alone the FUL valuation is:

$33,000,000 / 457,718,569 (NO. shares issued) = 7.2c

From memory the FUL Balance Sheet isn't significantly in the red.

These are pre-tax numbers (no idea what their current tax position is but I'd gather they have a hellof losses to carry forward).