LACI-Latin American Casinos Inc. Message Board

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Non-Tech : LACI-Latin American Casinos Inc.

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To: Mehmet1983 who wrote (15)	9/26/1997 9:11:00 AM
From: WallStBum	of 54

I see I'm keeping good company here. Hi all. On Rodney's suggestion, I've checked out LACI some this morning. Boy, I tell ya, I've got mixed feeling. Couple posts ago, VALUSPEC summed up a balance sheet to die for (note book value of $2.79 at 6/30/97), but the earnings and more importantly the "question" of future earnings perplexes me. However, even if earnings stabilized based on 2 cents (each of last two quarters I think) or 8 cents annualized divided into 1.875 gives a 23 PE. In that case, if we are reasonably certain earnings won't tank and the company is working to better themselves from an operations standpoint, LACI or LACIW could be an explosive stock. As Rod stated, just the interest on $4.0M in cash should run 6-8 cents annual. In sum, for $1.875, IMO you own $2.79 in assets and an earnings base that even with a small increase could launch the price. LACI traded at $7.50 last summer. LACIW at 3/4. Both near 52wk lows. I believe I may buy in at these prices. However, I'm not certain whether the warrants or stock are better. What do you guys think?? I suppose the warrants. dax

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