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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts
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To: Joe Copia who wrote (9725)11/17/1998 1:02:00 AM
From: D Ruccione  Read Replies (1) of 25711
 
Joey, CML filed its 10k friday and it is clear the stock is set up to make some people a lot of money....

the 10k includes an employee contract which makes it clear that smith & Hawken is worth $70 million, or $1.17 a share

the 10k makes it clear that CML will relocate to smith & Hawken's headquarters by the end of '99 ... by which time NT assets will have been sold to reduce debt, and the stock will be called smith & Hawken

the 10k says that the big bad lenders (DDJ) took a 19% common equity position in CML as a consideration for creating the $65 million line of credit in July ... nothing could make it more clear that the lenders are not going to close down the company

the 10K says that the fourth quarter, when Smith & Hawken erupted for a $3.9 million net profit, provides only 17% of its annual volume ... let's see 17 goes into 100 six times, and six times 3.9 is $23 million, and $23 million divided by 61 million shares is 48 cents a share profit, and the price of a share is 14 cents

this one is laying in the weeds, and it is going to be huge ... there are turnaround plays, and then there are plays where the turn around is already in place and the company just needs to finish cutting away the debt

good luck

diane
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