pws 112 is right: book value is 19.01. A very positive thing
I read pws 112's messages. I followed his calculations in his posting. It appears that pws 112's calculation is correct. IVR's book value after this new offering is $19.01 per share, according to his calculation.
For details , please visit his several messages posted on this board. He also provided the full document from IVR company.
You must read the IVR document, and do your own calculation to form your own judgement.
to spin the numbers...Book value now is about $17 give or take a few cents....shares have lost at least $1.50 in book value since then, then take into account dilution, fees involved in the sale of the crap, and money not put to investment use of about 40 cents a share(it wil be paid out and hence lower book value) and now you are down to $17 book value per share...If you believe PWS is smarter than the market here you will be in for a huge disappointment
That was based on paper losses related to hedges (daily booking to market of financial instruments), until they actually book the losses (maturities or actualy sales of the instruments) they haven't recognised a loss.