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Gold/Mining/Energy : American International Petroleum Corp

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To: Sycamore who wrote (5986)	12/21/1997 3:08:00 PM
From: taxikid	Read Replies (1) of 11888

did not check the math.. as i coukld not access edgar.. i lost my password/link :o( and the edgar link posted was ng earlier.. but lets do the math using thos numbers.. if the warrants are ex.. then co gets 26 million.. shareholders diluted to 26 million.. comapany holding as well as shareholders are DILUTED by an unspecified amount.. the transfer agents.. referred to as investment bankers by hypesters.. get say 10cents a share for conversion maybe more maybe less. so they get like 900k plus other administrative fees and stuff.. let's call it $2 million. that puts the company at $24 million.. they owe at least $10 million to hunts and others plus interest.. now lets call that $13 million. 13+2=15.. they get the 26 million.. they have left.. $11 million. they pay money for seismic and other stuff.. let's call that misc and pay out $3 million.. now they have $8 million minus operating expenses lets call that a million for the quarter.. so they have $7 million left divide by 51 million shares.. 7/51=roughly{no calculator used}13 1/2 cents per share in cash left.. that makes this stock worth 13 1/2 cents plus the value of their assets.. lets say $1.50 per share.. i am inflating my gut feeling by one dollar} if we then figure out the break up and depreciate the assets into fire sale terms.. the cash plus 20% of the assets is .30 plus .135=.445 cents per share.. now IMO that makes the INTRINSIC value of this stock $.445 the story makes up the difference.. like $3.50 p/share.. the street will not be bullish on this stock when millenium dumps their shares.. filing for it means that they will pump this stock if they can.. and when warrant price is high enough they will run to the hills.. they are not an I/R company they are paid promoters.. they got a million dollars to promote it.. they did well. taxi BTW this is only if they get the cash from the conversion.. you do the math and subtract their upfront transfer agents fees from th loan from the hunts.. and also do the asset breakup valuation.. figure it is worth what they paid for it and subtract 20% per year of ownership.. taxi

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