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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Gary Smith who wrote (10604)4/5/1998 4:36:00 AM
From: Warthog  Read Replies (1) of 27968
 
FAMH - conservative numbers

At the CC, it was stated that ATXI could be sold for
4M, using the 1.5M for the number of shares that gives
a share value of ATXI to be 2.67. That implies using
the 4:1 ratio, a value of .66 to FAMH. (our current price).

So at the low end of expectations, the price per share
might just drift around .66 until the merger is complete.

Using 40MM shares outstanding and 10.85 cents EPS on 20MM
shares, I get the low estimate of about 5.5 EPS (backwards)
and an PE of about 11 at the current price.

However, we know that the post merger EPS will be at least
36 cents based on 11.5M shares. At a PE of 11 then the
post merger price will be 3.96..which implies current value
of FAMH to be about .99.

I anticipate about 3 months for the merger to be complete and
expect the FAMH to increase to that point.

That is about a 50% gain in 3 months. Not bad, for a very
conservative estimate.

collin

remember, the future is difficult to predict because it has not
happened yet.
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