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To: SlyWombat who wrote (923)	8/12/1998 9:29:00 PM
From: Roger Brown	Read Replies (1) \| Respond to of 1195

Some compare this firm to DCTM... Relating OTEXF and DCTM market values, an equivalent market value for OTEXF using revenues for the last Q, is $21. However, severe differences exist in OTEXFs favor between the two. 6/97 to 6/98 saw DCTMs revenues increase 64% and expenses increase a smaller 46%. During the same period though, OTEXFs revenues increased 120% and expenses the exact SAME 46%. The "spread" between DCTM is 18% and 74% for OTEXF. The $21 above assumes the same growth curve. However, profit and revenue growth is much HIGHER for OTEXF. I believe we'll touch $25 soon and then on up. MY only concern is the increase in Accounts Receivable from $12.011 MM to$ 22.924 MM sequentially. It stands at about 145% of the period's revenue stream. A bit high IMO...Any comments?? It is deferring a lot of revenue (63% of Q sales, up from 26% last year and 39% from 3/98 Q), which possibly means it is being conservative (I like this).