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Pastimes : JAVA - Short squeeze
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To: Roger A. Babb who wrote (144)11/14/1997 8:37:00 AM
From: Richard Mazzarella   of 157
 
Roger, I understood that Tri-Star would get half the shares. That's only a dilution of 2. When I talked to Herb, I told him the stock could fall after the reverse split since there was no earnings to support the stock. He said that the Tri-Star earnings would support the price and he wasn't concerned. My experience has stocks fall to 50% of their presplit price when there are no earnings. The stock did that, we should be near the floor. I bought some stock yesterday based on what Herb told me before. That is that Tri-Star is earning $600k and there is 1MM shares. Even diluted by 2 for Tri-Star that would be a stock with a fair value of $3 with a P/E of 10. Tri-Star is expected to double its size soon. I guess this all depends on whether one believes Herb or not. He has a lot of stock at stake to screw himself, but I've seen idiot CEO's cut their own throats before.
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