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Non-Tech : GRIN (Grand Toys International Inc)
GRIN 27.26+0.9%1:06 PM EST
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To: Frank McVerry who wrote (391)9/14/1999 12:09:00 PM
From: Frank  Read Replies (2) of 495
 
Frank,

There are really three components relative to the cash:
1. Is the improvement of ratios Debt/Equity.
2. Reduction on interest expense.
3. Flexibilty

What would you do if you just added 13 mil to the coffers and you were already the biggest distributor in Canada?

Here is the problem I am facing.

Product Line Change.

"Changes in the product line come about in a variety of ways. For reasons of diversification, some companies enter new fields by acquisition or direct investment. In either case, PAST financial information on the new activity may not be available. Major new products may arise out of internal research or PURCHASED LICENSES and royalties. Again, past financial information will be unavailable, and future financial statements will take on a new complexion, with different trends, ratios, and the like." The above quote is taken from Securities Analsysis by Ben Graham.

The company thus, IMHO, has two states:
- Pre-Pokemon
- Post-Pokemon

Do you feel that KIDE sales growth figures are a good match for comparision with GRIN?

This being said, an evaluation of GRIN would take two components:
1. Evaluate GRIN based on part one of business (Furby, Wrestling, etc.)
2. Add a subsidiary called Pokemon to mix (Using KIDE historical sales growth patterns for given lines).
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