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Microcap & Penny Stocks : POKR - Casino Air - Real Gamble?
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To: blash who wrote (437)9/24/1998 1:26:00 PM
From: zookeeper  Read Replies (1) of 609
 
<Sorry for the long-winded post. A lot of stuff was on my mind.>

No problem. The biggest reason for my post was to get people talking seriously about this company again. Also, I didn't mean to imply that POKR liquidation value was $12 mil, but that $12 mil is a reasonable valuation for them (not just a simple instrument for calculating share value) as they are an operating entity making $1 mil+ per year in an industry that has an average price/earnings ratio of 10.2. I also assumed that AVIA is only worth its book value, which is no longer true after the acquisitions, as you pointed out, making a post-merger valuation of $0.67 per share a low valuation. With the acquisitions and the well above industry average growth prospects (expected industry average earnings growth is 12.3%, expected POKR earnings growth is 40%), it should be a lot more than that. I also agree that there is likely a lot of naked shorts who can't cover yet due to the low volume, and who are waiting to do so until after the merger, when a lot of POKR holders who just tripled their money overnight start to sell out, thus giving a lot more post-merger price stability than people are probably expecting. And, yes, anything can happen between now and merger time.
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