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Non-Tech : Cable Car Beverage (DRNK)
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To: Christina M. Young who wrote (169)6/25/1997 6:19:00 PM
From: Anthony L. Califano   of 284
 
I think the share price should be presently valued at a minimum in the $6 to $8 range since revenue growth was in the 40% to 50% range last qtr with EPS growth at about 100%. I expected a snowball effect whereby revenue growth and EPS growth would be sustainable for several years at the present rates for the following reasons:

1) DRNK has an awesome product; no other Root Beer or other quality soda competes adequately.
2) Cracker Barrel is expanding quickly and is very successful.
3) Large supermarket chains, such as Kroeger, have begun to carry the soda.
4) Distribution is increasing elsewhere
5) Areas of the country are untapped

This all helps my snowball effect theory.

The stock is unknown; if it were better known as it is becoming, it would command a much higher P\E ratio (say 40). Take an average of expected 1997 earnings (say .28) and 1996 earnings (.14) = .21*40= 8.4.

There is no way any rational person could justify a price of $3.50 (I don't care what the 8K comes out with).

Over my lifetime of picking stocks, this was my "diamond in the rough"- and I am SEVERELY disappointed.

Let's all continue to get the word out and hope for a higher bid or regulatory action for breach of fiduciary duty and\or market manipulation.
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