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To: greg Benfield who wrote (365)7/8/1998 11:09:00 AM
From: greg Benfield  Read Replies (1) | Respond to of 1020
 
3 3/8 and shooting up like rocket



To: greg Benfield who wrote (365)7/8/1998 11:56:00 AM
From: Tensane 1  Read Replies (1) | Respond to of 1020
 
Greg,

I think you have the company paying way too much for Berwynn. A good rule of thumb is 1 x sales. We know that Berwynn's sales are $20 million and that the stock is pegged at the price at the end of the year. Assume that the stock is $3.50 at that time, we give 5.7 million shares, if the stock is at $5, we give them 4 million, if the stock is at $10, we give them 2 million shares. Everything is based on the stock price at the end of the year, and with the big contracts starting to create cash to the bottom line, we shouldn't have to give up much to get a lot, all in my opinion.

Kevin