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MikeDDKing

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MikeDDKing

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Re: None

Thursday, 12/28/2006 11:51:21 AM

Thursday, December 28, 2006 11:51:21 AM

Post# of 172
I believe the best way to look at the value of ZNCM is to add the market value of their UPG shares plus the book value of ZNCM corporate and the AlphaNet subsidiary. Using a UPG price of $7.35, ZNCM's 2M shares are worth $14.7M. The book value of ZNCM coporate and AlphaNet would be $30.376M - $16.856 = $13.52M. The sum of these two numbers is $28.22M or $3.18/share.

In the interest of full disclosure, I currently plan to sell my shares prior to reaching the $3.18/share valuation.

Mike
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