Seeking Alpha
  • Steven Reiman
    $PRXI is getting interesting. $93M market cap, ~5M earnings power of operating business.18.6x earnings and you assume no value to artifacts
    6/5/13
    Reply (7)
    • byslkwd: Steve, do you have a view on a worst case scenario on the artifacts? At what price would you say this is 100% safe?
      6/5/13
    • Steven Reiman: Make it easy on yourself and value the artifacts at 0. Then ask yourself how much you'd pay for the operations business.
      6/5/13
    • Steven Reiman: The operations turnaround has been dramatic....depends how much they can grow it obviously but this is no longer just an asset sale play
      6/5/13
    • byslkwd: Well, the artifacts are definitely worth more than 0, but 18x earnings might be a tad generous. But you do put things in perspective...
      6/5/13
    • byslkwd: At 10x earnings, the Titanics implied valuation is like 40mm- Sounds actually pretty safe, considering there was a negotiation @ 189mm.
      6/5/13
    • Steven Reiman: Yes, if it dives after earnings I will most likely take a position
      6/5/13
    • Steven Reiman: after the jobs report on Friday I mean
      6/5/13