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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (1847)	12/16/1997 8:46:00 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 2544

Bruce, I'll be the first to admit that I did not expect $.5 before the end of the year, I did not even expect $.5 before March, the most negative I have been was saying in mid October that it will be well under 2 and possibly under 1 by March. Something must be extremely wrong there. At this price, assuming even 150 MM shares (which is more than the authorized number of shares) the $2 billion or so in writen mortgages is valued at $75 MM, this seems to me an extremely low valuation, unless the company is on the verge of expiring. Doesany one knows if indeed they are on the verge of expiring? I am still not jumping into this one, because of the incertainty, but if you know for sure that they will survive, this seems like a very interesting long term option alright. Zeev