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Technology Stocks : Xicor ?
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To: kblaine flaherty who wrote (513)7/24/1996 3:12:00 PM
From: Andy H   of 2920
 
Blaine

I actually have an accounting background as well, passed the CPA exam many moons ago and now am the CFO of a very small hi-tech company that was formerly my client. I found the practice of law in big firms to be quite distateful and finally left( Yesterday's WSJ had an article on page B1 about others who felt as I did-so bash away all you want about lawyers-much of it is deserved). As the lawyer in my firm with the accounting background, I was the one rewriting the more technical footnotes in the accounting statements in those IPOs. There are a surprising number of legal issues in each audit that affect the financials and are completely under the surface of the financials.

I am not familiar with the SI profile-I think I signed on last fall-don't remember if I filled anything out.

I agree that the problem with XICO's poor relative performance may be that it is a low dollar stock, which may trade differently (no back and forth support)than the $20-50 stocks I am used to. For the record, I believe XICO has had a positive close in only 6 of the last 31 trading days since June 7, so it has a lot of work to do to build a base or momentum. I certainly hope it stabilizes here. For people who use book value as a tool, and believe XICO will be profitable for years to come, the tax "asset" of $34 million does have value and is not reflected on the balance sheet. One could consider the $34 million as payment stream since it would be realized over several years and discount it to present value to a current number and add it to the net worth for book value purposes-ought to be worth maybe $1.00 or a little more per share.
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