<<LE would NEVER POST that the stock is worth $1.>>
LOL, true, got me pegged. I honestly don't think it will hit $1 this year. But who knows. Maybe I missed a great trip to the Bahamas.
One of the reasons I doubt the .11 EPS figure for 1997 is due to recurring operations is that, as Mr./Ms. Fun pointed out, taxes generally run about 40 percent. It would make for extreme gross margins.
Without the audit showing how .11 was arrived at, and without more than rumor as to what Myriad was making/not making (it's easy to make money when you don't pay taxes)... all is speculation. Especially 1998, even assuming Mort is healthy and ready to go in June.
Pardon me for my own back of the envelope calculation on the payroll financing arm. The ton of profits claimed on payroll financing confuses me yet.
With profits of $374,000 in three months, that would be about $125,000 in a month. I'll assume that FAMH did real well loaning out their money... that they are making a bit over 25% a year loaning out money, which would make any credit card company jealous.
So, if $125,000 represents about 2% return in a month.... the cash stash to run this operation would be $125,000 x 50 = $6.25 million. I thought Ira stated recently that they had only about $2 million on hand... and the IRS deal will take away $1 million of that right away.
Making $125,000 per month on $1 million... can someone figure out the loan rates needed to generate such earnings?
Just wondering,
L.E. |
