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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Big who wrote (88232)	8/6/1999 10:03:00 AM
From: Nietzsche	Read Replies (1) \| Respond to of 119973

CNRS Zapping the Fat in Restaurant Costs Barry Rubenstein, managing partner at Wheatley Partners, thinks investing in Internet plays is largely a question of valuation. He was an early fan of VerticalNet, buying in at 5 to 6 a share. The stock is now at 75. Juno Online Services went public in May at 13, six months after he bought shares at 5 each. The stock is now at 16 1/2. So what is his latest play? He has taken a shine to a cheapie: Cornerstone Internet Solutions (CNRS), now at 2 a share. The company, which is still in the red, specializes in business systems using Internet technologies. Cornerstone is a ''technology solutions partner'' for Microsoft, focusing on E-commerce services for Microsoft clients. One of its two units, USWeb/CKS Cornerstone, delivers E-commerce solutions to large business-to-business systems. This unit is an affiliate of USWeb/CKS Corp. Speculation is that USWeb may opt to acquire Cornerstone. USWeb/CKS couldn't be reached for comment. Cornerstone Chairman Andrew Gyenes declined comment. Cornerstone's other unit, B2BGalaxy.com, has real potential, says Rubenstein. It just launched FOODgalaxy.com, an Internet portal designed to cut the cost of food and supplies for restaurants and other food service providers. The system links buyers and sellers through competitive online bidding. Some 50 restaurants have signed up, including New York's Tavern on the Green and Sardi's. Max Klimavicius, president of Sardi's, says ''the degree of control we'll have over costs and supplies through FOODgalaxy should double our bottom line.'' Cornerstone expects to post sales of $10 million in 2000 and $23 million in 2001. An analyst says the company should break even in 2000 and earn $7 million, or 50 cents a share, in 2001.