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Microcap & Penny Stocks : TNRG Tianrong Building Materials -- Ignore unavailable to you. Want to Upgrade?

To: Wayne J. who wrote (3574)	10/16/1998 10:08:00 PM
From: ISOMAN	Respond to of 9824

Let's do a little math. Let us say, for sake of arguement, that there are 50 million shares o/s (forget that some will be cancelled) Let's also pretend that the stock is trading at $3.00 and the chunking debentures convert to 16 million shares. Now we are up to 66 million shares. TNRG's share of the 5 million in revenue is 80% or 4 million. 4 million split 66 million ways is 6 cents a share. with a multiple of 20 (which is very fair for holding companies) this means that the mall itself justifies $1.20 in share price upon conversion. now, that makes us still shy $1.80 in share price (that would entice the holders of the debentures to convert.) that means that TNRG has to produce another 9 cents of earnings per share. What else has TNRG got going for it. Well, there is Calvocade, which is growing into a decent businessof which TNRG owns 50%. There is The USBL franchise, of which TNRG owns 90%. There is night Hawk, that TNRG owns 100% of and is currrently teamed up with Columbia University working on a sea eye project. There is also the tracker priced at under $200 an easy $2000 less than anything comparable. Foot flexion, and Cell injury controller. CD rom games ---------------------------------------------- If you find it difficult to see revenues of 10 million a year one year from now then you will never see TNRG as a good stock to own.