IFCI stated that acquisition of Concepts was done with all debt, and that they did not want to issue shares at this level. They did state at some point they would replace some of the debt with shares, but they didnt want to do at this level. Maybe they have done so any way?? And to be honest, I dont know all of the details of the purchase, so maybe they had to do some conversion now???
As to restricted shares, you may be right. That was more of a general statement on my part that in my experiences shares issued to IR companies are usually restricted, maybe not in this case??
Additionally, I've gotten emails from people saying my earnings est seem way too high, and unrealistic. Believe what you will, but IMHO, these figures of 2.5m to 3.5m are in no way unrealistic, and are based directly upon statements made by IFCI. It must be remember that my EPS was based on 6 million shares. I, like Mike, believe the number of shares will be higher by end of FY97. How much higher, who knows? This is were the difference comes ala EPS est. Like I said in my post, if its 12 million shares, those EPS est go to .20 to .30, right in line with most est, which could very well be the case. If shares out is lower, then EPS goes higher.
Thanks for being devils advocate Mike, you bring out some good points. and to be honest with you, I have not read financials yet. My statements are based on statements made by IFCI. GG |
