rob, this is very helpful. Maybe I'm going nuts, but the potential numbers are looking quite impressive even without a 10x return, especially if these 4 companies IPO in the next 12 months. I'm really glad to see that Bizfon is on the list because it may provide them with the greatest ROI. Adding Bizfon and PinPoint to my hypothetical EPS numbers (which for the most part are more conservative than iTech's 10x target) shows a possible EPS of $1.10 - $2.14. Does anyone know what the average EPS multiple is for stocks listed on the Toronto Exchange? Am I missing something, or is this stock screaming "buy me!" at the current price?
IMHO it would be best for iTech if Medsite moved ahead with their IPO immediately. The NASDAQ seems to adjust every 9 months or so. If they try too much to time this thing, it may push the end of iTech's 6 month holding period into the teeth of another adjustment - not good.
---- numbers used for EPS projection -----
Weighted average number of shares outstanding:
27,800,000
Medsite: Purchase dates 6/18/1999; 12/10/1999
Number of Shares: 220,466
Total Cost: $1,688,177 Canadian; $1,164,842 US
Hypothetical stock price six months after issuance: $12-$25
Hypothetical value six months after issuance: $2,645,592-$5,511,650 US
Hypothetical value six months after issuance: $3,836,108-$7,991,892 Canadian
Minus Purchase Price: already booked as long-term investment last fiscal year
Rough EPS: .137-.287 Canadian
Elastic Networks: 2/14/2000
Number of Shares: 281,479
Total Cost: $2,175,000 Canadian; $1,500,000 US
Hypothetical stock price six months after issuance: $20-$40 US
Hypothetical value six months after issuance: $5,629,580-$11,259,160 US
Hypothetical value six months after issuance: $8,162,891-$16,325,782 Canadian
Minus Purchase Price: $5,987,981-$14,150,782
Rough EPS: .215-.509 Canadian
Bizfon: 12/21/1999
Number of Shares: 1,666,667
Total Cost: $749,700 Canadian
Hypothetical price six months after issuance: $5-$10 US
Hypothetical value six months after issuance: $8,333,335-$16,666,670 US
Hypothetical value six months after issuance: $ 12,083,335-$ 24,166,671 Canadian
Minus Purchase Price: already booked as long-term investment last fiscal year
Rough EPS: .434-.869 Canadian
PinPoint: 04/26/2000
Number of Shares: ???
Total Cost: $1,460,000 Canadian; $1,000,000 US
Hypothetical share price six months after issuance: $?? US
Hypothetical value six months after issuance: $7,000,000-$10,000,000 US
Hypothetical value six months after issuance: $ 10,220,335-$ 14,600,000 Canadian
Minus Purchase Price: $8,760,335 - $13,140,000
Rough EPS: .315-.472 Canadian
Total EPS: 1.10-2.14 |
