it came from yahoo chart....does not reflect the warrants outstanding so your # is correct. it seems like a premium to book is in order. I saw a post on the news section as to a law firm wanting to investigate the board on the offer. I am under the impression that the board was not advised of the offer prior to receiving it. Seems like they have a fiduciary obligation. The question is, does this bring other bidders? The stock is trading over the $7/sh price so indicates the market thinks it is too low.