Enamelon (ENML) - Does anyone follow this? Message Board

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Non-Tech : Enamelon (ENML) - Does anyone follow this?

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To: Mel Spivak who wrote (565)	5/7/1998 11:40:00 PM
From: drakes353	Read Replies (2) of 863

Mel: Upbeat or promotional? Po-tay-toe or pa-ta-toe? Well these development stage jobbies are interesting. They take flight on the smallest hint of "progress". I'm thinking that the time to add to my short will be right around the great coupon drop. The company won't be reporting the results of the drop until the end of July so there won't be much to sustain the longs 'til then. Hey, it's a theory. Here's some food for thought....ENML is now trading at 4x their annual production capacity. Normally I'd quote a multiple of sales but they don't exist yet to any meaningful degree so I'm left to contemplate what they could, possibly, maybe, perhaps, perchance produce in revenues over the next 12 months. With their new line coming on they could do $30 million. We've got 10 million shares out, it's priced around $12 so the market cap is about $120 mil. So, 120/30 = 4x potential revs. Does seem like one must check the valuation meter at the door to buy these stubs. No vision....that continues to be my biggest problem. drakes353

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