Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (12630)	2/1/2000 9:04:00 AM
From: valueminded	Read Replies (2) of 18998

Mr Pink: Reference AGX. While there are a number of things to like about this company, (not the least of which is a pile of cash and decent cash flow) Some issues caught my eye in the last set of financials. They are disturbing and I wonder what you thought of them 1. Cash flow statement. 5 mil spent on key life insurance policies. This seems awful high especially since the earnings were 13 mil. Whats the deal with this ? Sounds like a gifted whole life policy to me 2. Earnings were good but taxes were waaay down compared to prior quarter. Why ? 3. Looking at proxy, it would seem that they managed to get an additional block of nearly 700k (about 8%) of float of options granted at practically the all time low price of $22. This seems excessive and potentially highly dilutive I appreciate your insight on the above. thanks

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