Can NOLs be used as financing vehicles (like a John Malone spinoff) to purchase assets?
Steinberg: Definitely going to try to do this going forward. The NOLs provide them with an advantage as an acquirer Cumming: Have more flexibility in terms of what they can pay as a result of the NOLs Q10: Since they are now claiming that they are focus on buying better businesses, is that different from buying cheap business? What is the difference? Cumming: Nothing has really changed. They have never paid too much (based on their own assessment of value) and never will. Have seen the prices that people want coming down slowly over time. Can use the NOLs to take advantage of opportunities Q11: Can you talk about the prospects for Sangart? How do you know if the additional investment was throwing good money after bad? Cumming: They have no idea if they threw good money after bad. Still have to go through Stage II and Stage III trials on Hemospan (From Sangart website regarding Hemospan: Sangart’s lead product, MP4, is designed to effectively target oxygen delivery to tissues that are i
