Here are the numbers for the current outstanding shares. On April 25, 1997 Insiders held 9,350,000 shares. The total shares outstanding as of September 30, 1997 was 14,738,139.
Options outstanding as of 9/30/97
457,143 shares exercisable at $.70 (Fully Vested)
450,000 shares exercisable at $1.00 (Fully Vested)
250,000 shares exercisable at $1.125 (25,000 Vested, the rest are fully vested upon first product shipment)
125,000 shares exercisable at $1.25 (83,300 Vested)
45,000 shares exercisable at $1.38 (15,000 Vested)
125,000 shares exercisable at $2.50 (83,300 Vested)
Warrants outstanding as of 9/30/97
350,000 shares exercisable at $1.30 (Fully Vested)
On Oct 13,1997 MXMX announced $1 million dollars in new financing. In the past financing, MXMX has sold stock for $1.04 per share and then issued an equal amount of warrants at $1.30 conversion price. That would equal 961,538 shares issued and an equal amount of warrants.
Assuming we make it into the $2.00 range and including vested options and warrants, the total shares outstanding could be as high as 17,916,658 shares.
Now, lets assume all options and warrants are exercised and the total outstanding shares does go to 17,916,658. Then lets assume that initial sales are about $3 million. From that, lets assume after expenses and everything else, total profits are $500,000. That would be an EPS of $.03 for the first quarter 98. From that you can assume and annual EPS of $.12 per share. Based on the software industry PE average of 34.7, that equals a share price of $4.16.. Of course, this is just my humble opinion. |
