Dear Macwheaton,
I go along with your excellent analysys exept for one factor. That is your point ' What is POET worth today? we don't have a clue'.
Pelligrino had built into it a number of factors regarding risk that produced that range. At the time I was prepared to take the conservative view and regard their finding as not less than the lowest valuation at worst or not greater than the mean at best.
As regards today we have a considerably improved technical product, managerial risk lessened with the recruitment of considerable talent, the ability to close a deal, a probability, given PC's bold statements and confidence. No the range I feel has closed considerably, without considering the inclusion the IP of more inventions soon to be patented.
Would you not agree that it would be conservative to evaluate those improvements at least at the higher Pelligrino Valuation than the say the mean. I think we could be confident in stating a current share value based on improved Pelligrino situation would be $20 per share.
Well its an argument.
sulasailor
