PART V
REVENUES AND EARNINGS ESTIMATES:
These are my estimates, but I've received affirmation from the company that I'm very near their official auditor's estimates for EPS. For the profit percentage of revenues, I am using a calculation of 20%. According to insiders, this is an appropriately conservative number, especially considering profits may go as high as 40% on some of the projects.
LAKE TROPICANA
Total estimated revenues: $114,400,000 (9152 intervals x $12,500)
Timeframe: 12 months (average of 9 to 15 months)
Estimated contributing EPS for 1999: $.102($114,400,000 ö 223,920,708 shares, x .2(20% return of profit))
RANCHO MIRAGE VACATIONS
Total estimated revenues: $36,504,000 (4992 intervals x $11,250)
Timeframe: 18 months (average of 1 to 2 years)
Estimated contributing EPS for 1999: $.022 ($24,336,000 ö 223,920,708 shares, x .2 (20% return of profit))
Estimated contributing EPS for 2000: $.011 ($12,168,000 ö 223,920,708, x .2 (20% return of profit))
KONA REEFSHARE RESORT
Total estimated revenues: $110,448,024.96 (6708 intervals x $16,465.12)
Timeframe: 30 months (average of 2 to 3 years)
Contributing EPS for 1999: $.039 ($44,179,209.98 ö 223,920,708 shares, x .2 (20% return of profit))
Contributing EPS for 2000: $.039 ($44,179,209.98 ö 223,920,708 shares, x .2 (20% return of profit))
Contributing EPS for 2001: $.020 ($22,089,605.00 ö 223,920,708 shares, x .2 (20% return of profit))
RENO VACATIONS
Total estimated revenues: $41,600,000 (5200 intervals x $8,000)
Timeframe: 30 months (average of 2 to 3 years)
Contributing EPS for 1999: $.015 ($16,640,000 ö 223,920,708 shares, x .2 (20% return of profit))
Contributing EPS for 2000: $.015 ($16,640,000 ö 223,920,708 shares, x .2 (20% return of profit))
Contributing EPS for 2001: $.008 ($8,320,000 ö 223,920,708 shares, x .2 (20% return of profit))
SAN FRANCISCO (VERY GENERAL ESTIMATE CONTINGENT ON MANY UNDECIDED FACTORS)
Total estimated revenues: $114,400,000 (4576 intervals x $25,000)
Timeframe: 18 months (average of 1 to 2 years)
Contributing EPS for 2000: $.051 ($57,200,000 ö 223,920,708 shares, x .2 (20% return of profit))
Contributing EPS for 2001: $.051 ($57,200,000 ö 223,920,708 shares, x .2 (20% return of profit))
TOTAL ESTIMATED EPS FOR 1999: $.178
TOTAL ESTIMATED EPS FOR 2000: $.116 (incomplete as future projects will further add to EPS)
TOTAL ESTIMATED EPS FOR 2001: $.079 (incomplete as future projects will further add to EPS)
LATE 1999 TARGET PRICE: $1.34 (EPS of $.178 x PE of 7.5) to $1.78 (EPS of $.178 x PE of 10)
All this doesn't even take into account that MPTV is carrying forward a $20 million tax-deductible business loss. |
