Alas, a voice of reason. I suppose he just liked the sound of "thirty", or maybe he saw GEEK was at $36, but he didn't like three syllables. Of course, GEEK is at $36, but it has well over twice the shares outstanding as will Flashnet. AND, GEEK ran to $61, so if you multiply that by two you get $122. $122 X 230000 is $12 a share from FLAS alone. But, even that's not fair as Flashnet has significantly more customers than GEEK by a multiple of 3. Would it be fair to therefore multiply $12 by 3 to get $36? I don't know. Then, you take into consideration that PWCC has a book value of over $6 per share, and cash of $2 per share, are we at $42? Then, my favorite of all, is internet hysteria.
I too am looking for $25 conservatively, and if hysteria sets in, who knows? |
