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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH) -- Ignore unavailable to you. Want to Upgrade?

To: RLM who wrote (160)	7/9/1998 4:24:00 PM
From: R.E.B.	Read Replies (1) \| Respond to of 2153

I see the book value at $20 per share of the oil reserves are proven. The company acquired 60%. On consolidated financial statements, the value of those reserves could come in at $600,000,000 (60% of 1 billion), plus plant and equipment. The fully diluted shares after acquisition are: 3,000,000 float (currently) 6,000,000 restricted (currently) 2,000,000 warrants that expire 12/31/98 6,000,000 common shares ( to be issued ) 6,000,000 convertibel shares ( to be issued ) Total 23,000,000 shares Value of company (minumum) $600,000,000 = $26 This seems too good to be true but I don't know any other way to calculate it....... if someone can offer another calculation, please feel free.

To: RLM who wrote (160)	7/9/1998 8:26:00 PM
From: Andrew H	Respond to of 2153

>>I am also waiting to hear how true to oil reserves are. If that is true you are looking at a book value of about $8 << I don't know how they will value the oil reserves on their books. But if they conservatively value their oil reserves at 1 billion dollars, and 600M of that is LEAH's, that should do something for the asset value! I am told the 1 billion estimate is extremely conservative. At this point, it is obvious that no one believes it. If and when people start believing it, look out!