Mainframe Entertainment (ReBoot/Beasties) Message Board

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Gold/Mining/Energy : Mainframe Entertainment (ReBoot/Beasties)

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To: D.E. Shetland who wrote (188)	11/19/1997 6:03:00 PM
From: D.E. Shetland	Read Replies (1) of 459

FINALLY -Research. I haven't seen it, but a buddy told me there is a report making it's rounds in the financial community. I'll try to get my grubby hands on it. It is an extensive analysis of the business, the plans and prospects, written by the lead banker First Marathon (they ought to know the company inside out). I gather the price target is up there (around $16-18) and depends on a small movie getting done. The earnings for this year are roughly flat and next year over $1.00/share. Once again, I haven't seen it, this is what I heard. If that's a reasonable estimate, than MFE is severely undervalued. Nelvana is at something like 23x 1998 earnings and Cinar is 35-ish or something like that. The revenue and income growth (smoothed over the last few years) is comparable or better with MFE. I don't knock the others, but I would think MFE could justify the minimum rating. I guess one has to see the projects get signed, but so far they've progressed well since the IPO, adding the 2nd season of BeastWars,two new shows, two Imax RideFilms and an Elec Arts game --not bad. Hopefully, a report can be had.

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