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Technology Stocks : edusoft (EDUSF)

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To: edwin k. who wrote (14)	3/2/1997 10:59:00 PM
From: Frank Gasker	of 272

Edwin, Have had a small position in EDUSF for about a year. When reviewing edusf with the intent of taking a capital lose, i was amazed that fundementally they were strong. My research including discussions with management has lead me to accumulate EDUSF. My position is now considerable and I will likely continue if edusf sales and earnings increase as they have for the last 2q's. The q4 statement by Menachem was extremely optimistic which in itself is not necessarily a reason to buy. It does set the tone for future quarters and to the credibility of management. My concern with liquidity involves the amount of float which is available for trade and the average amount traded daily. Both are low; the float is at 1.5 mil about 1/3 of the 4.7 mil outstanding. Average traded daily is 14,000. These factors weigh heavily on the appeal of edusf by the money managers . If a quick exit is needed, it could lead to a sudden drop. It is fortuneately a two edged blade, good news could create demand in a light supply atmosphere. The quick ratio is the cash+securities+ recievables/current liabilities 12.6m/2m extremely positive. frank

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