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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations! -- Ignore unavailable to you. Want to Upgrade?

To: TraderGreg who wrote (1964)	4/29/1998 11:15:00 AM
From: Mike Sawyer	Read Replies (1) \| Respond to of 5847

The merger with Patriot will most likely be an all stock transaction. Let's say that Patriot is worth 1 million dollars and BANY wants to merge with them. Then BANY pays $1,000,000 in stock which would be 5,000,000 shares at current market valuation. But if BANY was 50 cents then Patriot owners would only get 2,000,000 shares. Of course options and other things come into play but this gives you a ball park of what BANY is looking at. At this time, Patriot would come out smelling like a rose if BANY did a merger unless Patriot agrees to a higher BANY stock evaluation. BANY holders would get dilution of a large magnitude at this level. I say... put a HOLD on the Patriot deal...work on revenues...and then talk about it again. Unless Yost knows something that we don't...of which I'm sure he knows a lot that we don't know. We just need to see the end results of one contract to make things much better.