According to this post from the big "O", over on IV ......

Oh, that's "Jon", incidentally .... ROFLMFAO !!!!

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In response to msg 2549 by cccaptain
Recs: 0 Re:+$1.16m of EBITDA in Q1:O

Thanks captain for sharing your hard work on this board.

I have just re-read the MDB report on LOOK:


< The better than expected results have caused us to revise our earnings model for the remainder of 2008.

We now believe the company is on pace to generate more than $75 million in revenues and cash earnings of $0.39 per share for the 2008 year. We believe management’s new focus on the LookSmart Ad Network is meeting with great success and that the share price is beginning to reflect the rapidly expanding bottom line results.

Therefore, we are maintaining our Buy rating and raising our target price to $10.50....

LookSmart currently trades with a market capitalization of roughly $78.2 million (17 million shares at a current price of $4.60) with $32.8 million in cash, giving the company an enterprise value of roughly
$45 million. We feel that this valuation remains low as a result of the market’s misperception that there is little value in second tier search properties and the fact that the company has struggled to
grow revenues during the past two years.

In addition, the company has not been able to generate profits since the loss of the MSN contract back in 2003. Now with an annual revenue run rate of more than $70 million and the fact that the company is no longer burning cash we feel the company can eventually command a valuation in line with other profitable internet related enterprises (at least 3X to 6X revenues).


For now, given the missteps of the past and the fact that the financial turn is still early, we feel a fair valuation would be at least 2X the 2008 revenue estimate plus the cash position. 3X our $75 million revenue estimate for 2008 equates to a per share value of $8.80.

We are conservatively adding another $1.70 per share to account for the cash position to reach a fair market value of $10.50 per share. Additionally, we believe an earnings valuation of 30X the 2008 cash estimate would also provide a fair valuation measure. 30X our $0.39 per share earnings estimate equates to a fair value of $11.70 >

I recommend that anybody wishing to invest in LOOK buy and digest the MDB report. It is brilliant. I am encouraged.

Captain, we agree that LOOK is stunningly undervalued. And so does this analyst.

Rgds
O Erhomenos

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http://www.investorvillage.com/smbd.asp...

Thanks "O" - Hold on tight, shareholders!!

:)