Re: Interesting numbers for USBF....
in response to
by
posted on
Apr 03, 2008 10:23AM
Skeedad...the only thing Scott bought was a shell company for $300,000....the trading is o/s shares is unbelievable, IMO, and over values the new entity....
The value added to the shell by the purchase of Elysium business is available in the third qtr FLIP sec filing...that being said, it has grown marginally since then and we await April 14th 2008 to see what the final FLIP valuation was for that entity...USBF will not file 2008 - 1st qtr for a while (months)....by my calculations, USBF is paying $1.5M for the 40% of Elysium business after giving 60% back to FTS for the preferred shares.....this values the new Elysium company at $3.75M
Stock market buyers of USBF are shooting in the dark, IMO, and are over paying bigtime....