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Technology Stocks : CAWS - Wireless Cable (New and Improved) -- Ignore unavailable to you. Want to Upgrade?

To: .com who wrote (5460)	7/28/1998 9:48:00 PM
From: VanGo101	Read Replies (1) \| Respond to of 5812

Zorro and Scott....Two impressive posts from two very well informed telecommunications experts! If Chapter 11 comes, I'm sure that you two will be able to get the attention of the bankruptcy Judge appointed to the case when we all appear seeking justice for the common stock shareholders. VanGo101...Van

To: .com who wrote (5460)	7/30/1998 8:59:00 PM
From: Zorro	Read Replies (5) \| Respond to of 5812

Some numbers... According to the Reuters news release: In court papers CAI listed assets of $325.6 million and liabilities of $387.3 million, of which $320.3 million is fixed liquidated unsecured debt with 1,500 holders. biz.yahoo.com In its self assessment of the company's total asset value, CAI estimated the value of its wireless channel rights (based on the results of the recent LMDS auction) to be $194 million. Message 5306890 We ALL agree that CAI's basis for its spectrum valuation is a total joke. CAI blows lots of smoke by making it all sound very technical, but we already know how these clowns operate. Why CAI management would not fight for the equity of its shareholders is simply beyond me. An independent unbiased professional reassessment of the value of CAI's wireless channel rights is definitely in order. Now, what if CAI's spectrum valuation was off by 50%? The spectrum would then be valuated at $194 M + $97 M = $291 M. This would increase the total asset value to $325.6 M + $97 M = $422.6 M. After subtracting $387.3 M in liabilities, CAI would then have a positive book value of $35.3 M or $0.87 per share. If CAI's spectrum valuation was off by 100%, then the spectrum would have a value of $388 M. CAI's resulting book value would then be $132.3 M or $3.26 per share! Anyone disagree with my analysis? Zorro