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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: watcher who wrote (5500)	9/9/1998 9:53:00 AM
From: Michael T Currie	Read Replies (1) \| Respond to of 15313

I made the mistake of posting this early last week when everyone was waiting with baited breath for results of the office visit. I am reposting it in an effort to stimulate some healthy discussion about the future of FNTN. Each case (minimum, most likely, and maximum) depends entirely upon my own assumptions, so feel free to argue differently as you see fit. The basic data is crude because of the lack of information, but I think this serves as a valuable exercise in 'what could be'. I guess we could choose mid 1999 as a reference point for this snapshot. Minimum Case Revenues/Client - intranet construction and maintenance: $0.5 MM No. Of Clients: 5 IDB Revenues: 0 (deal not consummated) Total Revenues: $2.5 MM Company Expenses (salaries, hardware, miscellaneous): $1.0 MM Consulting Contractor Fees: $2.0 MM Taxes: $0 (tax loss carryforward) No. Shares Outstanding: 25 million (share sales to cover ongoing expenses) Profit (Loss): ($0.5 MM) Profit (Loss) Per Share: ($0.02) 'Most Likely' Case Revenues/Client - intranet construction and maintenance: $1.0 MM No. Of Clients: 10 IDB Revenues: $2.0 MM Hill Publishing Revenues: $5.0 MM (10000 clients @ $500/client) Total Revenues: $17.0 MM Company Expenses (salaries, hardware, miscellaneous): $2.0 MM Consulting Contractor Fees: $5.0 MM Taxes: $3 MM (after tax loss carryforwards) No. Shares Outstanding: 19 million (as recently suggested) Profit (Loss): $7.0 MM Profit (Loss) Per Share: $0.37 Maximum Case Revenues/Client - intranet construction and maintenance: $1.5 MM No. Of Clients: 15 IDB Revenues: $4.0 MM Hill Publishing Revenues: $12.5 MM (25000 clients @ $500/client) Total Revenues: $39.0 MM Company Expenses (salaries, hardware, miscellaneous): $3.0 MM Consulting Contractor Fees: $6.0 MM Taxes: $5 MM (after tax loss carryforwards) No. Shares Outstanding: 16 million (company repurchases) Profit (Loss): $25.0 MM Profit (Loss) Per Share: $1.56 This exercise is not designed to reflect reality. I certainly don't have access to the required numbers. I have made a very strong assumption that unit costs will fall rapidly because of a degree of cookie cutter type service. Fees rise in absolute terms through the three cases due to the customization aspect, but fall as a percentage of revenues.What it should do is make you think about the possibilities. It is marginally better than saying 'I think the stock price will be $x.xx at the end of the year'. Have fun with your daydreams. I would really like to see some comments about my assumptions. Mike

To: watcher who wrote (5500)	9/9/1998 11:35:00 AM
From: Wally	Read Replies (3) \| Respond to of 15313

Watcher: You "got so tired of watching these "insiders" try to manipulate everyone on the thread that i decided to sign up" Thanks for coming to my rescue (JUST LIKE Cliff did for me)... or am I one of the "insiders" too? Or am I one of the shorters? Geez Louise! Now I AM confused. Who do I believe? How 'bout my own DD? Yeh. That's it! I'll do my OWN DD just in case that Michael Sheppard guy alias Bill , alias Radim, alias Harry, alias Don, alias Dan, alias Wiz, alias Barbara, alias John, alias Jim, alias Fred, alias Kevin, alias Samir, alias Bellboy, alias Tomato (a Commie?) alias Malcolm, alias Wally (oh - wait a minute.. that's me) tries to convince us he's got a real business going somewhere. Pretty much everybody is out to get me... and I don't trust me, either. Thank you.. Lone Ranger. And a Hi-O Silver, Wally