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Non-Tech : InvestRight Club Challenge
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To: Jeffrey L. Henken who wrote (665)3/14/1999 4:47:00 PM
From: Francois Goelo  Read Replies (1) of 2662
 
CORRECTION: SHARES #'s in XNET and IMOT got MIXED UP....

Upon reviewing my hand written notes, I realized the mistake. The shares numbers should approximately be, as follows:

IMOT: 8.5 Millions outstanding and 2 to 2.5 Mil. float

XNET: 14.2 Millions outstanding and 2 Mil. float

(not 8.5 Mil. outstanding and 2 to 2.5 Mil. float as previously stated)

These figures should not be relied upon for investment purposes, until I obtain written confirmation from Mr Cheung, Director of XNET and post it on the thread.

If the figures are correct for XNET, then earning per share would go down from 5 cents/share to about 3cents/share. Since the final value of the shares is subjective, depending on the PE multiplicator you choose, it is my personal opinion that they could still possibly reach the $5.00 mark before establishing a trading range.

I would like to hear from anyone who has accurate shares numbers for these two companies. Clearly, investors basing their investment decisions on what they read on SI and other Boards, cannot and should not take anything at face value. They should absolutely carry out their duty of Due Diligence before buying or selling any stocks.

Sorry for the mix up and thanks God it was picked up in time.

Regards, F. Goelo + + +


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