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Novavax, Inc. Message Board

mak424 5 posts  |  Last Activity: Sep 10, 2015 1:48 PM Member since: Jun 12, 2000
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  • Reply to

    Value of the company

    by mak424 Sep 10, 2015 1:35 PM
    mak424 mak424 Sep 10, 2015 1:48 PM Flag

    It is the value of the orig stake of 165 million = 56 million times orig stock price
    225 million cash
    Liquidation at todays price would give them 390 million in cash

    On SA another poster said that George was taking assumption of the debt. That doesnt make sense to me.

    Is he right because if he is 475 million has to be added to my value and the stock is a screaming buy here?

  • I am calculating about 225 million in cash when all is said in done.

    Total Debt 1001

    Tanker Debt erased 260
    ORIG Debt erased 80
    ABN Amro Erased 185

    Total Debt 476

    Cash received from sale of all ships

    1,416,225 2nd Q balance sheet
    795,000 Writedown
    621,225,000 Cash from sales
    476,000,000 Debt on ships
    145,225,000 Total Cash
    80,000,000 Cash reported at last conference call
    225,000,000 Cash
    165,000,00 ORIG Stake
    390,000,000 ORIG plus cash

    We need to add current assets and subtract current liabilities I believe which shaves 60 million off value of company.

    330 million value of company is what I came up with

    Any thoughts?

  • Reply to

    Something is Lost in the Translation Here

    by datadoescount Sep 10, 2015 12:36 PM
    mak424 mak424 Sep 10, 2015 1:04 PM Flag

    Debt was 1001- 260 Tanker Debt- 80 million ORIG debt- 185 ABN AMRO debt. Total Debt was 475 before this and now its 240 million that will be 0 once they sell the remaining vessels. Please Read the CC transcript from last quarter.

    Does DRYS assume the debt or does George? It seems like from the PR that Geroge does but that doesnt make sense.

  • Reply to

    Company has 3 billion in equity

    by kittlesandnits Sep 10, 2015 11:09 AM
    mak424 mak424 Sep 10, 2015 12:11 PM Flag

    Shouldnt we be calculating the cash component that they will be receiving for the ships sold?

  • I could be completely wrong in my analysis so please add commentary to my numbers.

    Tankers :260 million debt
    Ships sold : 238 million debt
    ORIG: : 80 Million Debt
    ABN : 185 Million Debt
    Held for sale: 1001-763= 238 million

    If DRYS sells the remaining ships I believe they will have no debt.

    From last CC, they have 80 million in cash on balance sheet and will end up with 600 if they liquidate all of the ships so around 680 total minus cash expenditures until that is complete.

    They have around 200 million in ORIG stake at these prices. Other current assets are 100 million with other liabilities of 165 million.

    Wouldnt a fair value of the company be around 800 million if they become just a holding company?

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