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Technology Stocks : IFLY - travel sales on the web pure play
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To: Rock who wrote (63)4/9/1998 7:16:00 PM
From: Secret_Agent_Man  Read Replies (4) of 4761
 
Rock and Ravi, The warrants are worth $3.75 When the commons are $10
Simple algebra tells us that $10.00=$3.75 Profit if exercised
at $6.25 ////////// so 10 is to 3.75 as x is to 6.96875 this in fact is the conversion Not a subtractive.

What all the above means is that at, a price of 6.96875 we have
6.96875/10 x 3.75= 2.61328125 this is what the warrants should be worth TODAY based on closing price of 6-31/32

Any other derivation is incorrect from a purely mathematical standpoint.

If still confused ask the street on Monday, because they will surely figure it out by then.

If you missed the boat and want cheaper shares the stock itself is going to have to go down, which although may be quite possible would appear to be unlikely due to the recent attraction to Internet plays.

If the stock does go down as well as the warrants I will be a heavy Buyer of both. If you read briefing.com you would know:

09:38 ET 800 Travel Systems (IFLY) 5 1/8 +3/16: It's official, IFLY is now an Internet play. Company has authorized management to develop an interactive travel reservation service over the Internet.

This means that at only 5.45x trailing sales, IFLY is probably the cheapest Internet play in the country.

11:17 ET 800 Travel Systems (IFLY) 6 7/8 +1 15/16: --Update-- For those who are continuing to keep an eye on IFLY, be aware that the stock has warrants (IFLYW 7/8 +7/32), up 33%. Not suggesting that you go out and buy some, just wanted you to know of an alternative way to play the stock.

Byron

PS I bought both the commons and the warrants today.
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