Where is LNUX One year later after 13D Shareholder Flexes Muscle?
-source: February 18th, 2008 TakingTheStreet.com
The activist hedge fund argues that SourceForge has gone through many transformative changes during the past year, but the overall business plan has been mediocre at best. This has resulted in a modest enterprise value of $60mm with a total market capitalization of $120mm, leaving the equity value of the business at $60mm. Clearly, this is unacceptable in terms of the valuation metrics that Wall Street is ascribing to the business prospects of the firm. The board has a fiduciary responsibility to shareholders to close this valuation gap and enhance shareholder value.
Trivium suggested that a share buyback may be the best option as it could result in a stock price between $5 and $15 per share.
So where is SourceForge today? Enterprise value has declined precipitously to $15.41M ( down 74.32%** ) and LNUX's total market capitalization has plunged to $51.98M ( down 56.67%** ).And this is subsequent to SourceForge having initiated share repurchases of approximately 4M shares or $3.2 Million as of January 31, 2009*** and bringing on a new CEO Q2 Fy' 09.
** Based on 03-24-2009 closing prices*** SEC Form 10-q for period ended January 31, 2009.
Join the discussion below, or Read more at www.takingthestreet.com.
Since: Jan 09
#1 Apr 5, 2009
Is 13D shareholder's wish realized when their own position in LNUX was acquired back by SourceForge? http://www.topix.com/com/sourceforge/2009/04/...
Add your comments below
|Bug Finder, a real Win32 extensible passive deb... (Jul '13)||Jul '13||Antonio Petricca||1|
|Movica (software for cut movie) (Jul '11)||Dec '12||nobody important||2|
|Is there any software that will let me create ... (Feb '11)||Feb '11||SamSloan||1|
|ThinkGeek TK-421 iPhone Keyboard Cases Ship (Dec '10)||Dec '10||5n0wCra5h||1|
|ThinkGeek Delays TK-421 iPhone Qwerty Flip-Out ... (Nov '10)||Nov '10||TechMaven||2|
|Is Jay Seirmarco Distancing Himself as Geeknet ... (Nov '09)||Oct '10||snow||3|
|Geeknet replaces its CEO as Q2 sales rise (Aug '10)||Aug '10||232 bevor||1|
Find what you want!
Search SourceForge Forum Now
Copyright © 2017 Topix LLC