THE NEW PNC TELECOM

Hello The 7th Duke of Corn, that's a new name that I've never seen before so "welcome".

I've never invested in PNC Telcome (long or short) so I have no motive really, I just like discussing shares. I presume by your presence that you would like to discuss PNC Telecom.

You seem prepared to acknowledge (unlike Springbok and daniel333) that at some point in time the bonds will go through the anticipated debt for equity conversion. Given this it seems most appropriate to allow for them in the current valuation of the company. There are currently 143m shares in issue and the debt for equity conversion will result in another 525m shares being issed at a price of 0.1p per share. On the back of a fag packet it therefore strikes me that 0.1p per share is the most obvious price to use to value the shares.

Do you have an objective measure to explain why this perfectly reasonable common sense approach is not correct?

regards

JakNife