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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: TEDennis who wrote (8638)	10/28/1998 2:24:00 PM
From: JDN	Read Replies (1) of 10786

Dear Tedenniss: What I mean is that at the current price (around 2.62) that is below the total of cash plus trade receivables minus all liabilities which comes to $2.91 as I calculate it. This means that the company operations are presently going for FREE and you are getting even a discount on the cash value. Since the company is at least operating presently on a break even basis cash wise (actually I think they have positive cash flow) it is highely unlikely any money would be lost at these prices. Those of us who bought in around the time of the IPO of course have substantial losses. JDN

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