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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (13757)	1/24/2002 8:59:35 AM
From: MCsweet	Respond to of 78530

Blankmind, Perhaps I am conservative, but $2.60 would make me plenty happy! If we get that, I'll be ready to buy you a beer. Any more than that would be icing on the cake for me. Basically, I'm not real confident that SOFN will be able to exploit its loss carry forwards. If this is the case, I would then estimate fair value at some discount to cash, as potential lay-offs, buy-out packages, and other potential closings costs will create expenses. The intrinsic value of the core business does not seem all that great to me. MC

To: blankmind who wrote (13757)	2/15/2002 2:12:13 PM
From: 249443	Read Replies (2) \| Respond to of 78530

re: SOFN Message 16831399 Blankmind, I'm looking forward to the 3/31/02 date for SOFN. What's your opinion of the company's breakup and/or liquidation value? I differ from your perspective, in that I assume a $0 value for the tax credit. But I would appreciate to hear a brief valuation breakdownon SOFN (i.e., cash, intangible factors, etc.) -- and your prediction for final breakup value. I personally see a liquidation in the $2.75 - $3.00 range, but would like to hear from you why this is a lowball number -- if that is still the way you feel. Did management state that 3/31/02 is a cutoff or liquidation would occur? Or could this "sale or liquidation" process continue indefinately? Thanks.