Internet America, Inc. (GEEK) Message Board

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Technology Stocks : Internet America, Inc. (GEEK)

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Oct 25 5:00 PM EST

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To: Jim B who wrote (201)	12/21/1999 11:45:00 PM
From: Glenn Petersen	of 220

"...the market is fun ain't it!?" Better then drugs. Actually, now that I think about it, not much different. LOL. After closing the PDQ.net deal in late November, GEEK disclosed that they have approximately 145,000 subscribers and an annual run rate of $34.0 MM. At today's close, that works out to approximately $1,374 per subscriber and 5.9 times revenues. A bit pricey. Eventually someone will take them out but not at $21 per share. Take a look at the PRGY/FLAS deal. When that deal was announced in early November, each of the FLAS subscribers was being valued at $491 and the company as a whole was being valued at 3.14 times revenue. GEEK will command a premium to FLAS because they have been close to break even on an EBITDA basis; FLAS is bleeding cash. Regards, Glenn

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