Point West Capital (PWCC) Message Board

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Technology Stocks : Point West Capital (PWCC)

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To: MrThesp who wrote (176)	3/15/1999 11:10:00 PM
From: ayahuasca	Read Replies (1) of 345

Hello all. I bought some PWCC today on a whim. Not much research until tonight. Now based on my admittedly rudimentary calcualtions I come up with the following. PWCC has traded around $4-$5 for as far back as I can see. This January they began what seems to be a strategic growth plan fueled by their stakes in FLAS, their brokerage business, HMSK and probably more I havent uncovered yet. This brought their stock up to the $10 level. So lets give PWCC a value of $9 independent of the FLAS IPO. Given their strategic initiatives and already seeming success in an IPO this seems a conservative valuation for the base of PWCC. Now with PWCC (with 3.26 million shares outstanding) owning 1,120,000 shares of FLAS they get $X/share for the following FLAS valuations: FLAS at 20 PWCC ($6.87 + $9)= $15.87 FLAS at 25 PWCC ($8.60 + $9)= $17.60 (where we are about now, so according to these calculations PWCC is priced based on a min $25 price for FLAS) FLAS at 30 PWCC ($10.30 + $9)= $19.30 FLAS at 40 PWCC ($13.75 + $9)= $22.75 FLAS at 50 PWCC ($17.25 + $9)= $26.25 etc... JMO

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