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Gold/Mining/Energy : Gimbel Vision International Inc. (GBV - ASE)
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To: Cal Gary who wrote (102)7/12/1999 3:10:00 PM
From: Cal Gary  Read Replies (1) of 165
 
New Kid on the block - from "Buzz of the Week"

======================= found at optistock.com
Buzz of the Week

Novamed Eyecare Inc.
will offer more than 7.1 million common shares, or 29% of the
company, in an IPO. The shares will probably cost $11
to $13 and trade on NASDAQ under the symbol NOVA.
Net income was $1.7 million and revenue was $63.7 million in 1998
for the Chicago-based company, which owns and operates 10 eye
surgery and laser centers.
Do not confuse Novamed Eyecare with NovaMed Inc., which makes breast implants and trades over the counter (ticker: NVMD).

======================= eom optistock.com

Here's a quick comparison between NOVA and GBV. I'm using the GBV
April 15 news release for 1998 Year End numbers and
$1.50 recent share price (until today, YAHOO!, new high today).

NOVA GBV Difference
-------------- -------------- ----------------
Shares outstd 24.5m s/o vs 23m about the same
(7.1m/.29)

Revenue (Cdn$$) 92m cnd vs 21m NOVA 4.3 times larger
(USD$63.7m * 1.45 exchange)

(NOVA expecting $11usd to $13usd IPO, use $11 @ 1.45 exchange = 15.95cdn)

Share Price (Cdn$$) 15.95 vs 1.50 NOVA 10.6 times
Market Cap (Cdn$$) 391m vs 34.5m NOVA 11.3 times
Rev/Share (Cdn$$) 3.76 vs 0.91 NOVA 4.13 times

BOTTOM LINE: Either this IPO is over priced or GBV is way under valued.
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