recent developments

Hi Guys

What a week! Wow. Non conditional binding offers huh? How exciting. I think the market really hasn't caught on to this yet. It also seems that the market regards this stock still rather pessimistically and that it really won't be that much more than $0.70 given all its got 110 Mil in debt and 20 mil of assests on the book *(ref comsec)

HOWEVER, if you value it along the lines of Ben Graham, or the DCF method, it should be worth something like... 1.60 or $2.0 respectively with an assumption of EPS growth of 1.3%. I agree with other people, no one will pay a yield of 20% - they will cut the dividend for sure.

I'm holding the stock but I wouldn't sell it below 1.20 and I can't afford to buy more right now. I've got to buy some stocks I can write some options over anyway. I feel like I could be throwing good money after bad. I've bought a fair bit of the stock and the ass has dropped out of it. I've been badly burnt by other small caps this year. I reckon what we need to see is some heavy accumulation by some "Smart" money and we are all in baby.