ELBIT MEDICAL IMAGING - EMITF - U.S. OTC Message Board

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Biotech / Medical : ELBIT MEDICAL IMAGING - EMITF - U.S. OTC

EMITF 1.750

+3,400.0%

Jun 20 2:38 PM EST

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To: voodooist who wrote (46)	4/9/1998 12:54:00 PM
From: peter michaelson	Read Replies (2) of 79

Fred: I'm not sure how the filings work. Re your private message on calculating EMITF's value. I'm repeating here - I see $228 million cash from sale, reduced by $10 million for expenses (my guess), reduced by 35% in taxes assuming $zero tax basis ($76 million) leaves $142 million cash. Divided by 21.6 million shares leaves $6.56 per share cash. Add $2.50 per share for value in Elscint gives $9.00 fair value for EMITF. This revision to my estimate from some weeks ago is due to a higher tax rate than I supposed at that time. I'm a bit rusty on my tax figuring, so I could be way off. Fred, in your private message you subtracted $70 from the $228. What does that $70 represent? Is it that you are calculating income for book purposes and I'm looking for cash? regards, peter

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