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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: cyberman who wrote (34084)	12/24/1998 5:33:00 PM
From: Terp	Read Replies (2) of 119973

<<Each warrant (NETSW) gives you the right (but never the obligation) to buy one share of NETS at $5, up until mid-year 2003. Right now, with NETSW at $8 and NETS at $13, NETSW has an intrinsic value of $13 - $5 = $8. Normally, warrants trade at a significant premium to the intrinsic value. This is due to the fact that you tie up less money when you buy NETSW. To control 1,000 shares of NETS you can either buy 1,000 NETS for $13k or 1,000 NETSW for $8k. Obviously, right now NETSW is a better deal, since you have to put up less money. Or, for a given investment dollar value, you can buy more shares of NETSW. As a bonus, once this fast market stabilizes, NETSW should pick up a premium of at least $1 over the intrinsic value.>>

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