SHOW (NASDAQ-regular)----Showscan Entertainment Message Board

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Microcap & Penny Stocks : SHOW (NASDAQ-regular)----Showscan Entertainment

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To: Dave Gore who wrote (18)	6/23/1998 5:17:00 PM
From: M. Frank Greiffenstein	Read Replies (3) of 95

Some DD... I had some time, so I downloaded the last 10K (8/97). Very interesting... 1) Only 5.6 million shares but company is closely held. The float, tops, is 2.3 million. The officers and beneficial owners seem to hold on to their shares! This is a good sign both for traders (adds to upward volatility) and FA people (officers believe in company). 2) Value of titles library going up, over 5 million in 8/97. That's a buck a share for film library alone. They have added titles since. 3) When all is said and done, I calculate book value to be $1/share, not the 0.77 reported at Yahoo. Looks like stock price ended up the day splitting the difference. 4) Backlog was 61 specialty screens in summer of 1997. These run about 1.3 million each. Not sure of rate of backlog ocnversion, though. 5) As of the closing price today, stock is selling at 0.23 times sales!!!! 6) My take is that the long term debt and the lack of substantial revenue growth has killed SHOW. It is easy to see why IWRK would want to take SHOW over. It would get a large film library, add screens and get a nice backlog which it may have better resources to convert. How much is SHOW worth. Well, at least 75 cents, LOL! But let's value it at one times sales. That would come out to the $3.50 IWRK would want to pay. If SHOW has cooked up some new deals that we do not know about and that would fuel new growth, we could really some above $4. The leisure industry will grow rapidly as Baby Boomers spend their bucks taking it easy. I'm a Baby Boomer, and that's what I am doing! DocStone

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