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Non-Tech : London Pacific Group - LPGL doubles...
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To: DwcOkla who wrote (645)5/20/1999 7:09:00 PM
From: xcr600  Read Replies (2) of 737
 
Someone who is more familiar with accounting should step in here. I'm not sure if they can account for it at what the current price is, or if they need to factor in the discount (generally a very conservative 40%) for taxes, etc. I assume they book it at a discounted value. Maybe someone can check with some CMGI gurus to see how CMGI accounts for it's holdings.

If they haven't sold any shares, it shouldn't add to their earnings, only the book value. Someone correct me if I'm wrong. We should earnings soon???

As of 12/30/98 they had NETP's book value at $4mln. Currently about $31mln, excluding discount.

I expect the nets to be weak till late summer, therefore we may not see a lot of action in LPGL except when ipo's near. BUt I still really like the upside with this co.

All imho.

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