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Gold/Mining/Energy : Windstar [WSRI], formerly Turtle Mountain -- Ignore unavailable to you. Want to Upgrade?

To: SnakeInATuxedo who wrote (74)	11/23/1999 5:02:00 PM
From: bconard	Read Replies (1) \| Respond to of 148

Hi CL, Did a Yahoo search on Nexland and got a number of foreign language hits. They seem to have a number of international distributors. Seems as though there is quite a bit of interest in their Internet sharing box. Bob

To: SnakeInATuxedo who wrote (74)	11/24/1999 8:41:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 148

It's hard to put a value on this company. If we just put a reverse split value from ~$0.05, the stock should still be worth the presplit capitalization ($0.05 X 160 = $8). Companies without earnings that reverse split usually immediately lose 1/2 their capitalization, therefore ~$4/share, that's the current stock price. However, companies with earnings that reverse which can be valued based on P/E retain their capitalization. The private company may have positive earnings, maybe not. The thing we should not forget is that the 10q warned of stock dilution to pay for this merger. What would be appropriate dilution? Maybe 100%? However, those shares should be restricted from trading and if this company is a viable internet operation, the dilution will mean nothing significant IMO, the book value more than doubled. Bottom line, knowing nothing more than we currently do, I value Windstar (sounds like an internet company name doesn't it) somewhere between $4-8/share. Earnings or internet speculation should raise that stock price. Any comments, anyone?