net cash by Q3 will likely be $2, and tangible book will likely be $3+ including investments and other liquid assets.
further, im not pumping, imo, mangas will pay them way more by 2012. they could net another $1 per share cash on the first payment as described.
And the second payment in 2013 should GIGM use its put option, will exceed $65mil CASH, simply because all player account balances has already been discounted as per their may 27th call, the 2nd payment is 65mil+ all cash.
Overall their net cash considering all things, will be over $4, of which yes, Net cash will be $2 short term.
Im looking forward to 2012 and 2013 payments.
Just because more cash is coming in a year or two makes it only $2 to you huh? Thats utterly ridiculous, a company should be valued at what theyre entitled to, and Mangas will pay them handsomely in Q2 and in 2012/2013.
And yes im letting people know that the current market cap is just barely equivelant to the first payment from mangas + their cash on hand.
Further, I expect a rise to $3.50 soon enough and hope people take advantage, both shorts and longs.
Put this in perspective. The very LEAST mangas will pay them is $165mil, but probably over $225mil considering everest's rising value by 2012+..
The payments from mangas are as follows. $100mil next quarter, and $65mil upon claim by GIGM's put by 2013.
$165mil (initial 'up front' payments) + mangas full value in 2012.
$225 is $4 per share from mangas.
Further, GIGM had $60mil cash also, minus short term borrowings maybe $25mil total.
Managas couldve bought GIGM over at todays market cap of $112mil or $2.05, instead they committed to around $4 in cash payments over the next 2-3 years, and GIGM retains its business value and cash on hand.
Thats the irony. Stock should be at $4 just on Cash AND FUTURE PAYMENTS.