lottery win, page-7

hi soonami

I have posted a bit of stuff on their asset values including equity holdings and cash previously.

currently their (adjusted for tax $9m due to be paid this year) asset value is about 60c.

since the listed assets are really not for sale then you would expect the stock to trade at a reasonable discount. the stock traded at a substantial discount to assets for most of its life. just prior to the div being announced the stock was trading for around the 80-90c mark vs $1.50 (ie when there was $1 in cash sitting there)

I like management a lot but I am not buying back my stock yet.