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divine, inc (DVIN) Message Board

  • platinumconvert platinumconvert May 2, 2002 3:28 PM Flag

    Still very psyched Part 2

    As for the reverse split -- in my mind (as a shareholder) the higher the better. My ratio of ownership doesn't change at all. Companies are not valued on a per-share basis; they reach their value on an overall market cap basis. You either have more shares at a smaller per share price to equal a market cap, or less shares at a higher price. A 25 to 1 reverse split would give DVIN 28.6 mil shares outstanding AFTER the VIAN and DTEC mergers (which, when completed, would give DVIN 715 mil shares outstanding). A company that will be between $650 mil and $750 mil in revenue, and profitable, with $150-160 mil in cash by year end -- what sort of market cap is that? 1x rev? On a concervative basis, yes. Average would be between 1x and 3x revenues. That would give DVIN a market cap of $975 million or $34.09 a share AFTER a 25 to 1 reverse. Before, a $1.36 share price. Anyway you slice it -- pre or post the split, DVIN is well worth the risk at these price levels and I continue to buy. Call me a pumper? Bullshit -- I just happen to own the stock, like it, and continue to buy it.

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