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Technology Stocks : Log On America, Inc. LOAX
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To: blankmind who wrote (12)4/9/1999 4:02:00 PM
From: Glenn Petersen  Read Replies (1) of 353
 
All of the David Paolo posts have disappeared. It probably dawned on someone, either David, LOAX's attorney or SI that it might not be a good idea to have the CEO of a company in the midst of a securities registration posting messages on SI.

Regardless, this is a bad deal. If the offering goes through as planned (@$10 per share), there will be 6,610,716 shares outstanding and a market cap in excess of $66.0 MM. Assume that LOAX has 4,000 customers. If each of those customers is valued at $2,500, you have a valuation of $10.MM, or about $1.50 per share. Toss in $2.50 a share for the cash and you have a stock that should be trading in the $5-6 range. Essentially, you are investing in a blind pool. This deal will either get repriced or die. IMHO.
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