ALL!!! -
Chatfield Dean & Co., Inc., is right on several items that investors should consider:
"Risk Rating: Extremely Speculative"
"Pro Net Link is grossly overvalued with a current market capitalization of approximately $300 million, based on a recent stock price of $8.00, with 37,849,500 shares outstanding."
"Pro Net Link is a start-up company with no historical revenues to date, and a net loss from August 1, 1997 to May 7, 1998 of approximately ($363,000)." (I have not verified this yet)
"...only $485,314 of cash on hand and a credit line of $500,000 as of May 11, 1998, according to their press release."
"liabilities of $399,291, the Company has shareholders' equity of only $86,023. The Company's balance sheet as of May 7,1998 shows cash of $335,314, liabilities of $399,292 and shareholders' equity of a negative ($20,055).
"The Company has no proprietary technology."
Based on a recent stock price of $8.00 and 37,849,500 shares outstanding (of which only 7,749,500 are free trading), the Company has a current market capitalization (value) of approximately $300 million.
If the Company's projections are right and they can get 40,000 subscribers in 12 months and 80,000 subscribers in 24 months, then the
Company may be worth a lot more in the future,
*** but to say it will be worth $300 million in the future is pure speculation..."
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The last line above says it all. Some of were SPECULATING when the stock was at $0.625/share and some of us today at $7.00.
- We have not seen the initial product!
- We have not seen one $360.00/Year signed contract!!
- We have just seen the initial financials!!!
- And MOST important in the imminent future, we have yet to see the launch!!!!
If you are in PNLK, you are not in the stock for its value as of today. You are SPECULATING on what it will be tomorrow (in a literal sense). The bets have been laid on the table by some, others have taken their chips out of the game, and still others are watching with keen interest on the sidelines. Perhaps I was foolish raising my stake today, but if today's press release says anything about the things to come with PNLK, I believe I know who the winners are going to be when the dealing is done.
Anybody else gonna have a hard time sleeping tonight???
Cheers,
George |
