LOAX is merely working its way toward fair value, which IMHO, is
somewhere near $4-$5 per share. They are an ISP pretending to be a
CLEC. Their sales last year were approximately $760,000 and they may
have 4,000 subscribers. When you stack them up against the other
public ISPs, they are lacking. The following analysis is based on a
review of the first quarter 10-Qs:
Internal Qtr to Qtr Percentage
Valuation per Market cap/ Subscriber Decline
Subscriber Sales Growth From High
LOAX 33,358 175.10 N/A 47.97%
BIZZ 3,079 9.94 N/A 50.00%
ELNK 1,399 6.23 11.55% 48.96%
FLAS 1,456 9.70 10.49% 61.17%
GEEK 1,559 7.29 14.58% 70.70%
MSPG 1,871 10.33 9.81% 46.99%
ONEM (1) 1,072 5.45 11.77% 57.35%
PRGY (2) 2,504 13.14 16.04% 52.47%
(1) Adjusted for the acquisition of "The Grid."
(2) Excludes Prodigy Classic subscribers.
The above analysis is based on June 1, 1999 closing prices. |
