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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (7277)	4/5/2000 2:35:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

By: frisky Reply To: None Wednesday, 5 Apr 2000 at 1:28 PM EDT Post # of 18779 ZSUN filed the 3rd quarter of 1999 amendment 10qsb and 10sb statement today. It has done a much better job to disclose the facts than the past. It has pretty much confirmed what I have said before. Let me highlight some of the new disclosures. (1) Changed the reward to OIA shareholders from one share per dollar EBITD to two shares per EBITD. I think they took care the split-adjustment in this filing. (2) Changed the reward to Global Marketing from 75,000 shares to 150,000 shares. (3) Admitted that Asia4sale.com Ltd. did not reach the positive cash flow as of 4/5/2000. (4) Admitted that OIA was the largest revenue producer which constituted 81% of ZSUN's revenues as of 6/30/1999. My estimate of 85% of ZSUN's revenues as of December 31, 1999 would be very close. (5) Momentum Internet accounted for 11% of ZSUN's revenues as of 6/30/1999. (6) Momentum Asia's Internet business accounted for 5% of ZSUN's revenues. Its printing and direct marketing business accounted for 3% of ZSUN's revenue as of June 30, 1999. I think that the 1% difference is the rounding error. (7) Disclosed that OIA charges $1,995 for home-study kit, $2,995 or $3995 for attending live seminars. (8) Disclosed the diluted EPS for 1999 for $.24. I like to warn the readers that the denominator is weighted-average outstanding diluted shares. Since the acquisition of OIA was on March 31, 1999 and the acquisition on Asia4sale was on March 25, 1999. The restricted shares issued to former shareholders carried 3/4 of the weight. The additional reward to former OIA shareholders was accounted for 3,847,917 weighted shares. Those shares were exercisable in the fourth quarter. Meaning, it only carried 1/4 of the weight. In other words, the former OIA shareholders would receive 15,391,368 shares on March 31, 2000. The closing price of ZSUN on March 31, 2000 was $11 3/8. Meaning, it is worth about $170,000,000. There are many more shares to come in the first quarter of 2000. This implies that the diluted EPS in 2000 will be very ugly. (9) ZSUN did not classify the reward to former OIA shareholders as options. I am not sure that IRS will like it.

To: Sir Auric Goldfinger who wrote (7277)	4/5/2000 2:37:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

By: frisky Reply To: 18777 by frisky Wednesday, 5 Apr 2000 at 1:34 PM EDT Post # of 18779 One more issue, ZSUN did not separate the one-time gain of of selling Asia4sale.com Ltd. for $4,7778,506 or $.05 per diluted EPS from the operating EPS. I don't think that SEC will like this at all.

To: Sir Auric Goldfinger who wrote (7277)	4/5/2000 2:57:00 PM
From: StockDung	Read Replies (2) \| Respond to of 10354

"This decrease is due primarily to the sale of Chequemate stock." pre-approved seminar payments not yet charged to credit cards of approximately $744,000 and the trade receivables of MAI of approximately $323,000. The substantial portion of these balances was collected subsequent to year-end. The increases in current assets were offset somewhat by the decrease in marketable securities from $786,588 in 1998 to $540,234 in 1999, a decrease of $246,354 or 31%. This decrease is due primarily to the sale of Chequemate stock. freeedgar.com

To: Sir Auric Goldfinger who wrote (7277)	4/5/2000 4:45:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

By: frisky Reply To: 18778 by frisky Wednesday, 5 Apr 2000 at 3:25 PM EDT Post # of 18780 Correction: The one time gain of $4,778,596 is an ordinary gain because ZSUN did not hold Asia4sale.com Ltd over one year. After the ordinary income tax, the gain should be around $3,000,000. The impact to the diluted EPS should be about $.12 not .05. In other words, ZSUN's diluted EPS from operation is about $.11, from one-time gain is about $.12, and from other activities (trading securities etc.) is about $.01.