Back out the cash, deduct the small debt, value the patent portfolio, value the company's revenues and profitability past and going forward.
$283 million in cash. Company selling just above $300 million in market cap.
Spanspur conservatively places the naked enterprise at somewhere between $225 and $325 million....if not $100 to $200 million more. Hence: We've got a company that will continued to ascend another $4 to $6 per share sometime in 2009. Nearterm move to $8 plus a distinct possibility.
The value is very compelling. The company could easily be bought out at $15 to $18 per share................
The correct question is how much is at what price does Hong convert his remaining 438,455 shares of Omnivisions $241 million. The cash will go to Shaw, Omnivisions other assets are worthless. Hong will die long before any investor lawsuit ever retrives a pennie of that cash.