WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: wayne who wrote (5487)	2/11/1999 4:19:00 PM
From: Gator	Read Replies (1) of 11130

MOKA is finally starting to get recognized. Spoke with the company today. Buyout deal with DDRX is worth $35 million minimum, higher if DDRX trades above $6. They're a bit dumbfounded that the stock isn't trading closer to buyout valuation. Could be because the AP reported the deal as being worth $25 million, instead of $35 million (AP forgot to factor in 1,667,000 shares of DDRX, $10 million worth of stock). At $35 million, MOKA shareholders will get $3.25 worth of cash and stock. With DDRX where it is now ($6 9/16 x $6 11/16), the deal is worth $3.34-$3.36. MOKA currently trading at $2 1/8 x $2 1/4. I'm in at $1 31/32 and $2 1/8 (just picked up more before the close). Looking at a very easy 50-60% return. Definitive agreement due to be signed March 5th. Even if it falls thru, you're left with a company (MOKA) with a book value over $4 that is profitable with high revenue growth. Easy money. Gator

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