Biosafe International, Inc [BSFE] Message Board

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Microcap & Penny Stocks : Biosafe International, Inc [BSFE]

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To: Smoky Lake who wrote (189)	3/23/1997 10:30:00 AM
From: DCBEN	of 280

Currently market cap for BSFE is about $4mm. based on 11.7MM shares. That might double if there were a solid, feasible business and recap plan announced and in the works. If they were to raise $5-$10mm in new equity, I can't see how we could complain if our company ownership was diluted by at least 50%. They may be going for more than that, they may be going for less. The old wisdom though is half of something is worth more than all of nothing. The point that Mr. Rivkin made was that it would have been far easier for the new management to startup a new company that to overcome the mistakes of the past. He speaks of Fairhaven more as an albatross that the cash cow that Rosen described. Of course the old company (we) owns the patents, (scotsafe) and the proprietary landfill remodelling techniques. Don't know what the hypothetical "new" company would have had to have payed for that. My tentative opinion is that a 50% stake in the new recapitalized WSII would be a fair deal for both us and the new investors, but this is based on no real numbers or data. We'll see more in the 10k when it comes out the end of the week. Allan

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