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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 1.050

+7.1%

Nov 28 9:30 AM EST

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To: Eracist who wrote (9769)	7/20/1998 6:38:00 PM
From: Scott H. Davis	Read Replies (1) of 14328

Eracist - watch outstanding shares on a fully diluted basis. No way to make a projection now due to their history of cranking paper/granting options. If by qtr 1 1999 report, shares outstanding are < 25m & revenues continue to increase, then $2.5 - $3.00 a year out is possible, based on hitting .03 EPS unrounded by qtr1 with a clear enough trend that investors would have confidence that by qtr 4 1999 EPS would be up to .04 unrounded. Those prices would disapoint a lot of people, but considering that would represent a > 25-50% return from today's price, not a bad return. It will take some time to re-establish credibility with investors. Financing an expansion with discounted convertibles was no-bueno. And time to verify that management is acting with self-discipline & show that it takes shareholder interests seriously based on actions rather than words. Company still has potential IF they can somehow restrain themselves in regards to shares. IMSCO Scott

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