Hummingbird Comm. (HUMC) Message Board

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Technology Stocks : Hummingbird Comm. (HUMC)

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To: Vahe who wrote (1606)	6/16/1998 8:59:00 PM
From: Paul Loucks	Read Replies (2) of 2018

I guess Vahe was too generous with his P/S multiple for the Andyne component in his May 25th valuation of HUM. Recall he wrote: >Owner's equity $170M = $11.3 per share >Cash over next 5 years $150M = $10 per share >Andyne with P/S of 7 $112M = $ 7.5 per share >Total = $28.8 per share (Can$41) And probably Martin was a bit too critical of Vahe's valuation. I no longer have a position in HUM but I believe the rock bottom will be $25.00 US. HUM has almost reached that level. This bottom could be verified if HUM were to announce poor numbers and the stock did not go downward. I would not anticipate any great press releases prior to earnings announcement. I think HUM annoyed the investment community last quarter when they had several very positive press releases, got everyone's expectations up, and announced disappointing numbers. Another important note is that HUM seems to only announce good news. It should be brought out that the former President and CEO of Andyne left shortly after the merger. My understanding is that this was not the plan but ... HUM never provided a press release on this issue. Here is hoping for all you longs out there. Paul

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