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To: John Lacelle who wrote (13571)	5/4/2000 11:23:00 AM
From: SLSUSMA	Respond to of 13953

Undervalued? That's a matter of perspective. You can't really say they are undervalued since they don't make a dime. As late as a year ago, not making money was no big deal in this new internet economy; however, things have changed since then. Not making money = low valuation. It's too bad that EGRP picked the wrong time to start spending for customers (and losing old ones at that). CC should have done that a couple of years ago.

To: John Lacelle who wrote (13571)	5/4/2000 12:05:00 PM
From: SLSUSMA	Respond to of 13953

Let's see, you say that EGRP will make 28 cents a share next year? Let's be nice and say that EGRP will beat that and come in with 40 cents a share. However, major brokers, like the ones the E-Groupies like to put EGRP on a par with, have a P/E of about 15. Doubt that? Just look up MER, GS, or MWD. So applying the PE to 40 cents and what is EGRP valued at if it is a major broker? A nice $6 per share. Even if we applied SCH's PE of 50, EGRP is still only worth $20 a share. Therefore, the idea that EGRP is undervalued is absurd.