With $80.8 million in cash they would have about $8.8 million left after returning 60c per share on the current capital of 120,268,402 shares.After paying the balance of the winding down costs of $2 million they could have $6.8 million as a final distribution.By that time the capital would be 122,634,629 through the exercise of the remaining options.This would mean a final distribution of 5.54c per share sometime after September 30.Hopefully a good plan will emerge to use the shell and increase the share price.
INE Price at posting:
5.0¢ Sentiment: ST Buy Disclosure: Held