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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (906)	11/25/1999 7:59:00 AM
From: jjs_ynot	Read Replies (2) \| Respond to of 954

Glenn, I have recently followed your work on Backdoor IPOs and have found that your analysis almost mirrors my attempts at valuation. You have produced some very high quality work. In considering the value of parent; most (90 percent it seems) forget to discount for remaining debt at the parent and a tax/liquidity discount of 30 to 45 percent of parent-owned shares. Keep up the excellent posts. Regards, Dave PS Happy Thanksgiving