Market capitalization: $72,000,000 (approximate)

Operating income last 4 quarters:
2009 q3: 980,000
2009 q2: 1,200,000
2009 q1: 1,100,000
2008 q4: 1,290,000
-------------
Total: 4,570,000


Price to Operating Income= 72,000,000/ 4,570,000 = 15.75


This is pretty similar to price to earnings. It's very hard to believe that a site with exponential growth in traffic can trade this low. Also, factoring in the $21,000,000 sitting in cash brings even more value.

I guess the market is overcompensating for redpoint warrants.