Tech Squared (TSQD)- Internet Commerce Message Board

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Microcap & Penny Stocks : Tech Squared (TSQD)- Internet Commerce

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To: M. Frank Greiffenstein who wrote (655)	7/17/1998 9:55:00 PM
From: Quad Sevens	Read Replies (2) of 2752

A little bit of bad news (perhaps this was expected): After the 2 for 3 reverse split (this is a fact, not just boilerplate anymore, as it occurred on July 14), TSQD owns 3.2 million shares of DRIV. The percentage ownership has dropped from 23.3 to 18.92. Ramifications for TSQD must be adjusted accordingly: The claim of TSQD on DRIV (per TSQD share) is now (3.2 million/10.5 million) x price of DRIV, or about .3 x DRIV. So a model for TSQD's share price might be something like 1 + .3 x DRIV, forgetting about the discount for the moment. The proposed maximum offering price for DRIV is 12, which is ridiculous, but even that supports a value of 4.6 for TSQD. A price of 40 for DRIV gives 13 for TSQD. Etc, etc. Not too shabby even with the markdown. See DIGITAL RIVER INC /DE S-1/A Filing Date: 7/15/98; link provided above by Kimberly. Wade Diluted TSQD shares outstanding

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