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To: Mike Farrar who wrote (922)	8/12/1998 7:13:00 PM
From: SlyWombat	Read Replies (1) \| Respond to of 1195

What is a reasonable valuation for this stock? They have clearly proven that profitability is doable. I don't know what the estimates for their fiscal 99 are, but with $.13 in Q4/98 one could argue for a $1/share for FY99. Current multiples for the computer software sector average 37.5, so a share value of $37 is more in line. Companies like DCTM are at 55x so OTEXF should command $50/share. They are clearly the growth leader and are on the right path. I think that they will test a new high if the market holds together and they post a few press releases on the wins they have mentioned.