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Non-Tech : PSCKF - Playstar Corporation
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To: THOMAS GOODRICH who wrote (227)5/7/1999 2:01:00 AM
From: peter paul  Read Replies (1) of 330
 
Playstar corporation's market capitalization =(36,872,644 SHARES)X($0.61/SHARE)=$22,492,313 =$22.5 Million .Playstar management is projecting $2,000,000 in net income for 6 months from the credit card processing technology alone.That translates into (2MILLION/6 MONTHS)X (12 MONTHS)=$4 Million in net income projected for 12 months from the credit card processing technology alone.Earnings per share(EPS)from the credit card processing technogy =($4 MILLION )/(36.87 MILLION )=$0.11 per share.Add the casino earnings per share to get the full earnings per share.Playstar public float= 18 million shares.Playstar's current stock price is $0.61 . Relative comparision of Playstar with Starnet communications.Starnet's market capitalization =$237.2Million. Starnet's last announced quarterly (november1998-january1999)net income was $888,421 this translates into Starnet's earnings per share of atleast $0.14 per share for the next 12 months period.Starnet public float is 14 Million shares.Starnet's current stock price is $9.375 .I have been following Playstar since 1997, i am more confident in playstar's management.Time and Patience will reward the long term shareholders.I am not giving any of my playstar shares at these undervalued price levels.Technically speaking i think playstar stock price is cheap and undervalued.These are my own personal investment opinions.Good luck to all investors.
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