Great Internet Idea - First Link Communications FLCI Message Board

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Technology Stocks : Great Internet Idea - First Link Communications FLCI

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To: wanmore who wrote (1)	5/1/1999 11:21:00 PM
From: Brian Maguire	of 9

This is how I understand the value and pricing of the warrants. Since they are in the money they have a real value of $.5 but since warrants are long term options they also have a time value or premium. So you take the $.5 and add to it some premium for the time. Apparently they expire in 816 days which is quite a bit of time from now for options. Take for instance SGI which is currently 12 3/4. The Nov 1999 15 calls are bid 1 13/16. They are not even in the moneyand have only 210 days till they expire. The price therefore is made up completely of time premium. So if you plug in the numbers for option valuation for FLCIw I bet you get the 2.82 mentioned. There is no pullback calculated AFAIK. To your second msg: I just read the prospectus and this sounds to me like a great idea as well as an internet play. Its kindof like the beginning of the cable industry. Spend some money to get some customers and when you have the equipment paid off you have a nice anuity. Just think of the growth potential... all of the apartments in the world. This could be big, but I bet they get bought out before that.

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