Infonautic's In2000: Low Cost Year 2000 Coversion Message Board

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Technology Stocks : Infonautic's In2000: Low Cost Year 2000 Coversion

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To: Louis Riley who wrote (103)	11/17/1998 10:02:00 AM
From: Fred Puppet	Read Replies (1) of 206

Wow Louis, have you no shame? "Think a 5X forward P/S is too conservative? A 10X would yield ..." Please oh please tell us what a P/S of 100 would yield. You forgot to mention that the company loses between 4 and 5 million dollars per quarter. This is no accounting quirk, but it's a real cash loss. Book value is already negative, and NASDAQ delisting looms. They still have a little cash, but in another quarter that will be gone too. Money losers like INFO generally have a P/S less than 1, but with the danger of NASDAQ delisting, we should drop it down to 0.3, or maybe 0.1 if you think 0.3 is too optimistic. I calculate a share price of about 17 cents using only the shares outstanding. How should we account for the floorless convertible?

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