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To: Bill Ulrich who wrote (47)	7/25/1998 2:12:00 PM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 253

Bill, Am I overly optimistic or erroneous with the relative importance of the above items? I guess the answer depends upon whether you perceive the stock to be a growth stock or a value play. Looking at it as a growth stock (my perception of how I see them portraying themselves), the numbers aren't unusual, except for the large percentage ownership by the CEO. He's omnipotent in that company, so that means that any other stockholder's voting shares are practically worthless. So to invest in them, you have to have absolute faith in the CEO. Since it's a new company to me, and he's a new personality to me, I don't have that faith and therefore choose to watch and wait on this one. If you look at this stock as a value play, it would appear to be overvalued from most any ratio, but especially price-to-book. I'd like to see a few quarters of reported performance to get meaningful P/E and PE/G rates. As far as the current volatility goes, the initial drop might have been institutional flipping of the IPO. The second drop might have been individual investors or other institutions who missed the first opportunity. But because the volatility is still there, this is an issue to watch, not buy, in my opinion. KJC