FlashNet Communications, Inc. (FLAS) Message Board

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Technology Stocks : FlashNet Communications, Inc. (FLAS)

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To: Andy Hodge who wrote (116)	11/8/1999 10:46:00 AM
From: Glenn Petersen	Read Replies (1) of 129

With PRGY at $24, each of FLAS' 13,952,515 shares are being valued at $8.58 (4.99 MM shares of PRGY times $24 divided by 13,952,515). The 244,000 subscribers are each being valued at approximately $491 and the company as a whole is being valued at 3.14 its revenues (annualizing the second quarter numbers). While FLAS had $38.8 MM in cash as of June 30, 1999, it also had $13.455 in deferred liabilities. If you net all of the liabilities with the current assets, you have about $18.0 MM. FLAS burned through about $5.0 MM in cash during the second quarter and probably would have had to go back to the market for additional funding sometime during the first quarter of the year 2000. IMHO, this was a smart deal for FLAS.

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