CORESTAFF (CSTF), now MMWW Message Board

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Non-Tech : CORESTAFF (CSTF), now MMWW

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To: Lucky888 who wrote (214)	12/2/1999 8:55:00 AM
From: Glenn Petersen	Read Replies (1) of 257

Updated back door analysis: Assuming that the overallotment option is exercised, MMWW will own 40,005,048 shares of XPDR subsequent to the IPO. There are currently 34,254,000 MM shares of MMWW outstanding, which means that each MMWW share is backed by 1.17 share of XPDR. If XPDR pops to $40, each MMWW will be backed by XPDR stock with a gross value of $46.80. Discount that by 50% and you have a value of $23.80. Add another $13 for the remaining business of MMWW and you have a value of $36.80. If XPDR pops to $50, the MMWW valuation is $42.25. If XPDR pops to $60, the MMWW valuation is $48.10. JMHO.

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