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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR

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To: xcr600 who wrote (836)	7/28/1999 8:52:00 AM
From: Glenn Petersen	Read Replies (2) of 954

AmerciasDoctor.com (AMDR) has filed its amended S-1 and they have announced that they are selling 7.25 MM shares at a range of $8-10 per share. They are looking to raise $60.0 MM and they will have 24.93 MM shares outstanding after the offering. The $60.0 MM buys 29.08% of the company. If we assume that the deal is priced at $8, which is probably unlikely given the excitement surrounding this segment, the company is being valued, pre-IPO, at $200.0 MM. Note that KOOP, which is a direct competitor of AMDR, was priced at $9 per share, spiked to $45 and currently sits at 25 5/16. There are two AMDR back doors, MEAS and PRWW. My favorite is PRWW. It is solidly profitable and has $2.09 of cash per share. Assuming that AMDR doubles, the AMDR piece, adjusting for the 40% discount, has a value of $1.75 per share. The remainder of the company, which closed at $6.25 yesterday, is being valued at $2.41. Very undervalued IMHO. A detailed analysis can be found at: Message 10681229 A detailed MEAS analysis can be found at: Message 10680729

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