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Technology Stocks : INPR - Inprise to Borland (BORL) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Whlan who wrote (1464)	10/27/1998 11:57:00 AM
From: TTOSBT	Read Replies (1) \| Respond to of 5102

Re: "Also, looks like those theories about the buyback keeping the price above 5 were just theories, bid and ask are now both under 5." I wasn't talking IMMEDIATELY! go back and read what I stated I said buy close your eyes and in TWO YEARS etc. About the book value I read something at work of the value I was referring to I will get the details and give them to you (probably tomorrow) but it had something to do with cash $88 mill price of headquarters buildings and I think the $2mill deferred earnings reported q3. Accounting is very complicated to me so I will get the info and let you know. TTOSBT p.s. The ask is already back to 5. Don't panic people! Everytime there is something coming up on Microsoft the software market gets ready to panic.

To: Jerry Whlan who wrote (1464)	10/27/1998 12:15:00 PM
From: Cube	Respond to of 5102

Jerry, This is where the buyback (if Del actually does what he announced) will kick in. Every minute this stock is below 5, margin calls will force it lower, unless buyback action kicks in. Price will tell the tale. If the stock stays in the near $5 range, we'll know its INPR buying back their stock. If it continues below $5, there is no actual buying back of stock by the company. If it stays above $5, the real fun will begin when the buyback is completed and this stock is left to fend for itself. If it is above $5 when that happens, it will be a great short if Del is still there. Cube

To: Jerry Whlan who wrote (1464)	10/27/1998 12:36:00 PM
From: Cube	Respond to of 5102

Jerry, I looked up INPR data on Market Guide; here comes a reality check. First of all you are right, INPR book value is $2.30. PE ratio is 44! Price/free cash flow is 228! Folks, these numbers are extremely rich for any company. Looking at Microsoft, we find a PE of 46 and a price/free cash flow of 47, all from a company that grows earnings 40 to 50% every quarter. CADE Industries is a company I own that grows earnings around 100% every quarter for the last 4 quarters and it's PE ratio is 14! So, for all the hopeful longs out there, you are investing in a company that has NO growth in either revenues or earnings but it has a PE of Microsoft. These are facts not opinions. Cube........... Book value, here we come.

To: Jerry Whlan who wrote (1464)	10/29/1998 1:23:00 AM
From: TTOSBT	Read Replies (1) \| Respond to of 5102

Re: "Maybe I'm missing something, but Yahoo's profile of INPR shows book value to be $2.30, which is a far cry from $5.60." Ok here is what I read from some broker (Needham I thing?). Their valuations is based on $81M in cash plus $15.4M for Starfish plus $15.5M in deferred earnings that's $111M cash going forward. Now middleware business alone should get $50M this year 1998 and for some reason they times that by five $250M (I think its because Iona does 6x for their middleware earnings) totaling over $361M that's better than $5.60 share value without counting buildings and property or 1999 earnings values. Now this is not First Call or rock solid written in stone. It is one broker's valuation so I say and that's where I shot off at the mouth about the $5.60 per share value. I cannot see how 5x this years middleware earings would be a factor though? TTOSBT