Olympus Ventures (OLPV) Message Board

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Non-Tech : Olympus Ventures (OLPV)

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To: Alan Sleadd who wrote (58)	12/3/1996 7:24:00 PM
From: Dean Moshova	of 485

Greetings OLPV Shareholders... As the old saying goes I have good news and bad news.... First the bad. The company's books were a mess. Before new management came in they should have called the company Fly by Night Ventures. Its taken so long to get the books in order due to this condition. If you read any of the old info from the company kit previous PR firms were distributing you'd be amazed. I read one that said the company anticipated doing 150 million dollars in business in this fiscal year. Assets were stated as 20 million. Both of these figures were not even in the same universe as what this company is worth. Anyway the bad news is that the financials will not be out this week. Morgan says they will be out next week. I know many of you have heard this before but thats the deal. Now the good news... After writing down the bullshit assets I've gotten some guidance as to the true value of the company. I estimate assets to be around the 5 million dollar area. There is very little outstanding debt. I estimate that the company can do between 11-13 million dollars in sales this year. There are around 750 employees and the mills run at about 85% of capacity. There are currently 11.1 million shares outstanding. 2.7 million of those are treasury shares. That leaves roughly 8.5 million shares floating. Similar companies with much more debt trade at about 1X sales. If OLPV can do a conservative 10 million in business then the fair market value of the stock should be in the $1.20 area. Morgan is flying up to my neck of the woods this week. My partner and I are trying to set up a meeting. I'll keep you posted. Thanks for all the new posts. It's nice to know I'm not the only one holding shares!

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