From The DIV-Net:
Tikcro Technologies (TIKRF) trades for just $7 million, but it has $7.4 million of cash on hand against just $240K of total liabilities. In addition, Tikcro owns between 20% and 30% of a public company in Israel named Biocancell (BICL). Tikcro's stake in Biocancell is worth about $8 million.
One way of looking at the above situation is as follows: Upon purchasing a share of TIKRF, the investor is getting the rights to an amount of cash equal to his investment, and in addition, he is receiving a stake in another public company for absolutely free. For the value investor, a free stake in a business comes at just the right price, as it offers good downside protection. Unfortunately, this investment is not without risks...
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