To: Ditchdigger who wrote (3501 ) 1/20/1998 9:02:00 PM From: Zeev Hed Read Replies (1) | Respond to
Ditchdigger. First you should know I have not owned any EXSO for quite sometime. From a simple business point of view they have two problems at least that need addressing, the residual about $1.2 of floorless still sitting there and some manner of rescheduling the APS debt, so I figure about $5 MM. I have no idea how much cash they were able to squeeze out if any from the operations they are shedding, I would presume that they took all the hits in the last quarterly, but I have no way to find out one way or another. So assume that they have before them a task of rasising somehow those five millions. Now look at the current price and make what would be to me an outrageous assumption that the equity base would ballon to 75 MM shares, that put a value on this company of about $10 MM at current prices. If they manage to get the financing within these constraints (and probably a reverse split sometimes in the future), I do not think that they are overvalued here.
