Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying -- Ignore unavailable to you. Want to Upgrade?

To: Top Jim who wrote (1084)	7/14/1999 3:29:00 AM
From: Top Jim	Respond to of 1305

FWIW, I've crunched some #'s to share. The 10K gives a good snapshot to get a focused look so this should be fairly close. Holding......3/31 val.....6/30 price....Disc %....Valuation....EPS COOL........$17.78..........$10.............10%..........$9.00......(2.46) ROWE........$30.54..........$15.50.........30%.........$10.85.....(0.60) WGAT..........N/A...........$51.50.........30%...........$36.05......0.40 MPTH..........N/A............$22..............30%..........$15.40......0.40 JWEB..........N/A............$23..............30%..........$16.10......0.51 MODA..........N/A...........$11.............30%..........$7.70......(0.03) CMRC..........N/A...........*.............40%................... All other income & expenses: ($0.08) * CMRC Priced 6/30 @ $21, IPO closed 7/1 at $66. If unrecognized in Q1 10Q, ($1.86) EPS. If $21 - 40%, ($1.68). If $66 - 40%, ($0.69). EPS Range is NOL of ($0.69) to ($1.86). This is the range to be expected, IMHO. Earnings should be reported around mid-Aug (8/14 last year). True Q1 earnings (w/o discounts) is ($0.46) to $1.68 (again depending on CMRC timing/valuation). YTD true earnings as of 7/13 close is $2.00. Regards, TJ More information: Holdings info (shares,basis): COOL (1409855, $1.93) ROWE (153676, $9.76) WGAT (93897, $14.53) MPTH (227273, $6.60) JWEB (261846, $6.41) MODA (46995, $10.98) CMRC (184191, $7.60)

To: Top Jim who wrote (1084)	7/14/1999 2:50:00 PM
From: Jason Compson	Respond to of 1305

This is mysterious. The following is an excerpt from the 10K of Medallion Financial Corp (TAXI): "Furthermore, in order to qualify as a RIC under the Code, each taxable year, a company also must distribute to its stockholders at least 90% of (a) its investment company taxable income and (b) the excess of its tax-exempt income over certain disallowed deductions. Provided that the Company satisfies the above requirements, neither the investment company taxable income it distributes to stockholders nor any net capital gain that is distributed to stockholders should subject the Company to federal income tax. Investment company taxable income and/or NET CAPITAL GAINS THAT ARE RETAINED BY THE COMPANY SHOULD BE SUBJECT TO FEDERAL INCOME TAX AT REGULAR CORPORATE INCOME TAX RATES." So what does WCAP know that TAXI doesn't?

To: Top Jim who wrote (1084)	7/14/1999 3:43:00 PM
From: Jason Compson	Read Replies (1) \| Respond to of 1305

To complete the tax discussion, it is my understanding that if a RIC retains the realized capital gains and pays tax on such gains, then shareholders are permitted to increase their basis in the stock of the RIC by 65% of the realized capital gains. To quote again from the TAXI 10K: "Each stockholder would then be treated for federal income tax purposes as if the Company had distributed to such stockholder on the last day of its taxable year the stockholder's pro rata share of the net long-term capital gain retained by the Company and the stockholder had paid its pro rata share of the taxes paid by the Company and reinvested the remainder in the Company." Check out the TAXI 10K. It's discussion of the taxation of RICs is clear and thorough.