Gediminas Jasionis

CryptoLogic Limited (NASDAQ:CRYP) At Turning Point

by Gediminas Jasionis August 31, 2010

With the current price, the company is worth around $20 million on the market, which corresponds to the $23 million net tangible assets. As the cash position is being constantly reduced by losses from operations, the net valuation is going down as well. Market cap obviously doesn't want to get below $20 million before the fundamental valuation does, so it could be assumed that the current price level is rock bottom until updated financials come out. 

CRYP_logo.jpgThe online casino gaming company is trying to lure clients with new product packages. However, after the very disappointing results seen throughout 2010, the new offers would have to be quite successful just to keep the books in black. Sustained growth is out of the question for now.

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