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Biotech / Medical : PHP Healthcare
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To: Les White who wrote (118)11/16/1998 9:54:00 AM
From: CMon  Read Replies (1) of 136
 
Les, you have a very basic misunderstanding:

- The cost of PPH to buyer is a great deal more than the $11MM stated market cap of equity, the compnay has bank debt, a convert issue, and there remains a big chunk of the convertible pfd out there. The buyer takes on these liabilities as well.

Additionally, your market cap to equity is based on the 11.7 MM shares out as of July. Do you know how many there are now? I don't. but it's certainly more than that.
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