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Non-Tech : Palweb Corp (PAEB)
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To: rlarson who wrote (392)11/25/1997 11:41:00 AM
From: Dave Shares  Read Replies (2) of 2512
 
R Larson and all:

It's not exactly what I had in mind either. But, after talking to the company, maybe for the short term it makes more sense this way. They estimate that Cooper needs an investment of $10 million to get their manufacturing facilities in place (in the meantime, they are going to use contracted manufacturing space I am told). If Cabec were to pay for this, they'd issue shares (dilution) or borrow, etc. Tulsa Industries will now be the financier for this, saving us from that expense. Cabec gets 3% on GROSS sales. How many times have you seen a company have good sales but still have a loss because their expenses are too high. Cabec will get their percentage off the top. How much different is 3% of gross sales from 100% of after tax profit ??? Cabec also retains 15% interest in the operating entity of Cooper. Also, the $2 million being spent for Cooper (which goes to the creditors) is paid by Tulsa Industries.

So I'll let this simmer a bit and see what happens. The company is also getting some notice behind the scenes, and a research report on them has been prepared that I am supposed to get (not MS!!!!!) Will share more when I get it from the company.

Hope all is well with everyone, peace to all, and happy Thanksgiving!

David
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