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Non-Tech : Ashton Technology (ASTN)

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To: Zeev Hed who wrote (534)	5/3/1999 10:21:00 PM
From: Rob W	Read Replies (1) of 4443

Zeev, under the most casual review of this company and available information, you should be able to answer your own questions. Before you move to the products, why not start with the management. What situations did these folks leave to start and be a part of this company? How many have patents in their own names? Did any of them start another similar type company and was it a failure or success? How many have appeared on CNBC as a guest analyst? The revenue possibilities seem endless, but the first product is VWAP. Keep in mind this is just 1 product from 1 of the company's 5 subsidiaries. SEC gave their approval to the system in March. You might wish to read that document as it will allow you to glean a deeper appreciation of the complexities, and well as comprehend what a regulatory authority had to say about the product. The Ashton CEO has already commented about the projected volume, and the EPS number has been kicked around on this thread many times. The system is set to go live 7/1, and daily volume over the system will be reported. (It wouldn't surprise me it the start date gets moved up as the company last I heard had completed 2 tests with no problems being reported and only a 3 and final test is planned.) "End of year" the CEO has stated they will be doing 20 million shares. This is the same CEO who told me that they go live 3rd quarter. If third quarter means July 1, I suspect end of year means much sooner. It's .03 per share, but there will be discounts. So use .02. Volume = 20,000,000. FOr a profit margin I use .4 as the system if fully automated. You might wish to visit the company's home page and review the other subsidiaries and think if there might be a potential market for what they plan of offer. Hope this helps.

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