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Technology Stocks : Point West Capital (PWCC)
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To: Tibor who wrote (13)2/1/1999 8:38:00 PM
From: .com  Read Replies (1) of 345
 
I haven't seen anything about a stock split prior to the IPO. (If one were to happen then FLAS would trade at half the anticipated amount and dollar value of the deal would remain the same.) All I can go on is the prospectus and conversations with the IP for the PWCC (actually one of their holding companies). All filings indicate a specifc number of shares that FLAS will own and I have never seen 1.3 million in any filings.

As shown in prior calculations, FLAS is only worth $3/share to PWCC if FLAS is at $30 and $6/share if FLAS is at $60.

Rarely is there as much value to the mother company in these spin-offs as people hope there are. The only upcoming IPO which fundamentally has a huge upside that I am aware of is UIHIA with their UPC spin-off. In that case there is a legitimate large upside.

Again, I am not saying that PWCC won't go higher from here. I probably will. I am just saying it will be based on hype and not intrinsic value.

I do wish you well with it.
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