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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE -- Ignore unavailable to you. Want to Upgrade?

To: Dave H who wrote (2041)	1/30/1998 4:47:00 AM
From: Cary C	Respond to of 2377

EFTC.... The FA on this one looks pretty good.The dip to 12.25 or so in November was due to the 4 million shares that were offered at $12. I was concerned about the 500,000 shares being sold by unnamed insiders but after checking, it looks like the insiders owned over 4 million shares. This would mean that the sell accounted for about 12.5% of their shares. Salomons initiation of coverage shouldn't really count since they were one of the ones selling the public offering. Looking at the balance sheet I have a couple of concerns. The company shows only having $350,000 in cash and cash equivalents. This could be offset by the $24,000,000 they have in receivables except they have 22,000,000 in payables. I didn't see where they had set aside anything for possible write offs for bad accounts. This is probably on the TA side but appears the stock has experienced some price swings recently because of people getting in at $12 durning the public offering and possibly selling for a fairly quick gain. Hope some of this helps Cary