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Microcap & Penny Stocks : TASA. Can someone with KNOWLEDGE help!!!! -- Ignore unavailable to you. Want to Upgrade?

To: csm who wrote (205)	3/6/1998 12:55:00 AM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 601

Hold On! Stuart, Hold on to those shares as I suspect we are in for a wild ride. The shareholders letter as well as the recent earnings release contains key traces of a success story in the making. Take a look.... <<At the present time, management continues to have a very active acquisition initiative, and we hope to be able to identify and acquire appropriate candidates in 1998.>> <<Mr. Simon concluded, ''We continue to generate substantial cash from operations as measured by EBITDA to support our internal cash expansion needs. I am comfortable therefore that the price of our stock, which we recognize is subject to the previously announced NASD continued listing requirement of $1, will reflect the strength of the Company and that TASA will be able to meet the requirement in the requisite period of time.''>> Again, hold on! Regards, Tom

To: csm who wrote (205)	4/10/1998 8:28:00 PM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 601

Stock Valuation Model - Book Value A guest speaker on the Nightly Business Report stated that it was not long ago a company's stock traded at two to three times book value. Now, stocks trade at four to six times the same value. Utilizing the old and current average valuation multiple TASA would be fairly valued as follows: Book Value x Average Multiple = Stock Price Average Multiple of 2.5 Times $0.74 x 2.5 = $1.85 Average Multiple of 5.0 Times $0.74 x 5.0 = $3.70 This method conservatively indicates that TASA should be trading between $1.85 and $3.70 based on its book value of $0.74. IMHO - More proof that Touchstone Applied Sciences is currently undervalued. Regards, Tom