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Biotech / Medical : Misonix Inc. (MSON) -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (792)	8/23/1998 11:14:00 PM
From: Untouchable	Respond to of 947

With the last numbers, I don't see anything other than up. The only thing holding us down must be the overall market sentiment. Untouchable

To: md1derful who wrote (792)	8/24/1998 1:29:00 AM
From: Petemeister	Read Replies (1) \| Respond to of 947

MD: I view this as a serious value play. On the other hand,I view this as a serious growth play. Warren says to hell with whether you are of the value or growth bent, they are linked. MSON fits both. I am basing my optimism strictly on the numbers. Looking at the balance sheet dated 3/31, MSON has 16MM in cash, receivables and inventories after subtracting short term debt. Adding in last quarters numbers means we are worth $3 in a fire sale. If you paid the current price, MSON can be had for $36MM. This means at the current rate of profits, you would be realizing a return of 25-30%. Where is fair value? Dividing 100 by the long bond rate suggests a P/E of 17.8. Looking at quarter over quarter growth of approx. 25% suggests a P/E even higher. Taking the conservative number, fair value would be somewheres near $15/shr. The beauty of MSON is the prospects for further growth. I see the prospects for further growth with their Ultrasonic technology, especially as it relates to advances in the medical uses, as very exciting. Look at their other products. PCR Hoods to prevent contamination of DNA/RNA samples. Probably was a Misonix hood checking Monica's blue dress!! What could be wrong with this scenario? Ultrasound proves to cause blindness, RNA/DNA testing becomes inadmissible as evidence, etc, etc. Obviously, on a more serious note, competition could surface, snags in product development or approval could slow growth. I see the pluses outweighing any possible minuses at this point. MSON has got their foot into some very interesting markets. MSON needs exposure. The numbers are there. My opinion is that a final pullback is possible due to current market sentiment and the desire/need of market makers to accumulate shares for sale when the demand hits. How do we get shares to sell? Scare people into selling. I have saw this a hundred times. SFAM, SMOD, HDCO, COHU, NTAIF, MU, etc., etc. Hang with the fundamentals of value and growth. MSON's management has been delivering the numbers for a while now. I have confidence in them and besides they still have those unexercised options as incentive. Good luck.