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To: Mark[ox5] who wrote (7457)	3/22/1998 12:43:00 PM
From: Little Engine	Read Replies (4) \| Respond to of 27968

<<<Todays earnings are .1085 for 1997 .1085 x 20 PE = $2.17 .1085 x 25 PE = $2.71>>>> Mark, you would of course have to chop these numbers in half to get the current P/E, since the outstanding stock has doubled. A 20 P/E would bring a price of $1.08. I can't see how anyone could figure P/E's based on "projected earnings"... especially since I remember the projected earnings of .09 for the 4th Quarter of 1997. Or based on the projected reverse merger... not exactly "cruising" toward that soon, are we? Speaking of cruising...I thought the final agreement was supposed to be wrapped up on Thursday? But Ira will be in Mexico on Thursday? He didn't know? Looks like more delays...