|From: badger (Rep: 5)||Date: 08/22/2008 21:00|
|Forum: Badger The Lion - Msg #2 - List OPMR msgs ||No Thread (Rec: 0) |
|IRBT IPO vs. WowWee Pseudo IPO|
iRobot (IRBT) had about $76 million in cash after its IPO in 2005, which was priced at $24.00 per share for approximately 23.4 million shares. After WowWee's pseudo reverse merger into Optimal Group, Inc. (OPMR), and OPMR’s Optimal Payments subsidiary assets sales, OPMR will likely have significantly more cash than what IRBT had after its IPO, about the same number of shares [with OPMR’s share buyback], and about the same revenue [$142 million revenue for IRBT in 2005 vs. WowWee 2008E revenue of $130 to $140 million]. Both companies are in the Personal Robotics market, anticipated to grow to $15 billion by 2015. WowWee’s Rovio telepresence robot competes directly with IRBT’s ConnectR telepresence robot.
* IRBT IPO: $24.00 per share.
* WowWee Pseudo IPO: $2.63 per share (as currently priced by the market).
Do ya think the market might have misplaced a decimal somewhere?
If you don't get Personal Robotics, then listen to this MP3 interview of WowWee's Mark Tilden:
And if you still don't get it, I give up, because it is like explaining the concept of an online retail brokerage to someone back in the 1970's, or the concept of a personal computer to someone back in the 1960's.
Please do your own DD. I make pick mistakes about 35% of the time.
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