OT: Any comments on this outfit and/or their pick?
Dear Emailer's: saadvisory.com
>>
>>Within this email we will feature our Stock Pick of the YEAR for 1999. This
>>choice will also appear within Dick Davis Digest during mid January 99!
>>
>> FINANCIAL PERFORMANCE CORP. (FPCX)
>>
>>The company's principal business is merger communications and marketing
>>services to financial institutions. MKP's primary business is bank merger
>>communications, which accounts for approximately 100% of revenues. The
>>principals of MKP have managed over 50 merger communications and other
>>projects for banks, including Bank of Boston/Bay Bank, The Bank of New York,
>>Citibank, First Union National Bank, first National Bank of Maryland, Nat
New
>>Bank, Fleet Bank, The Dime Savings Bank of New York, Great Western, First
>>fidelity, CIT Group, PNC and Chemical Bank.
>>
>> Select Financial Data Year ending Dec
>>
>> 96A 97A 98E 99E
>>revenue 8.7 million 7.8 million 23 million 40 million
>>
>>
>>net income/sh .003 (.07) .32 .64
>>
>>
>>shares outstanding 4.9 7.9 9.4 9.4 million
>>
>>
>>9-months ending Sept 30,98 3-months ending Sept 30,98
>>
>> 98 97 98 97
>>
>>revenue $16,274,000 $6,412,000 $7,000,000 $1,900,000
>
>net income/sh .238 (.07) .087 (.06)
>shares 8,799,000 7,992,000 9,400,000 8,015,000
>
>Book value as Sept 30th 98---$4,135,922 or around .41/sh
>CASH as of Sept 30th 98---$3,456,266 or around .35/sh
>Long term debt---0
>NOL---over $1 million as of Sept 30th, 98
>Working Capital---$3,700,000 as Sept 30th, 98
>FPCX---FULLY REPORTING WITH SEC
>Robert Trump owns 4.9 million shares( brother of Donald Trump)
>Public float is around 1.8 million
>
>Remaining shares held by management and close ties.
>AS OF NOVEMBER 9,98--9.4 MILLION SHARES OUTSTANDING--FULLY DILUTED
>
>If the Harvard Business School needed a "perfect company" regardless of size
>to review for investment quality--It is our opinion FPCX would be hard to
>beat!
>
>The company has no debt, has a huge cash horde, revenues are exploding(for
>the 3 months ending Sept 98 revenue soared 268%-- for the 9-months revenue
>rose by 153%),earnings are rocketing ( for the nine months ending sept98-
>income/sh reached .238 versus a loss of .07)has a huge NOL, which will help
>shield taxes,strong management team, great cash flow and working capital,
>leader within unique niche and best of all --FPCX is extremely cheap based
>upon STRONG FUNDAMENTALS!!
>
>Based upon recent management conversation concerning the future revenue and
>earnings growth---Management has no problem with the numbers for the year
>ending December 31, 98, that is, $23,000,000.00 and income/sh of .32! As Mr.
>Finley ( president) stated within our Sept/Oct newsletter " the revenue and
>earnings trendline is anticipated to be a mirror image of the first six
months
>on 98 continuing through 99". IT SURE LOOKS LIKE MANAGEMENT IS RIGHT ON
>TARGET!
>Based upon 98 est. for rev and earnings our current share price of $1.06
>indicates a severely undervalued and underfollowed investment opp. As
present
>FPCX is currently trading at a PE of 3.3X, 2.2 book, .43 PSR and 3X cash!!
>
>If one considers that FPCX is growing by triple digits and earnings are just
>as mindblowing---that higher fundamental variables surely be assigned!!
>
>Even if we assign a conservative PE of 15X ( COMPANY IS ANTICIPATING TO GROW
>BY 80% NEXT YEAR AND EARNING ARE ANTICIPATED TO DOUBLE) and based upon
>our earnings for 98 our share price would equal $4.80--a 352% gain over
>current levels.. Next year numbers are even more attractive---earnings for
>99--according to management should reach .64/sh--with the same PE valuation
>of 15X--our share price zooms to $9.60/sh!!!!
>
>If FPCX was to trade at 1X sales--which ofcourse is extremely low then our
>share price based upon 98 numbers equals $2.50 and for 99 equals $4.00!!
>
>Concerning NASDAQ-- The company hopes to get list within a reasonable time
>period. Management is considering a secondary at the $4.00 level.. The
>company is also acquisition oriented.
>
>In our opinion, based upon what we have and what is anticipated FPCX is worth
>at least $3-$5 near term and $6-$9 within 12 months if revenue and earning
>projections are met!!
>
>In our opinion FPCX will get noticed sooner than later and will appreciate
>dramatically from current severely undervalued levels. It should be
>considered as a core holdings within any portfolio of undervalued micro-mini
>caps..
>
>For more information call the company--Mr Finley--1-212-557-0401
>For a qualified broker-----------------Mike Chesler--1-800-331-1355
>
>This investment opp. has been rated a Strong Buy! We first recommended FPCX
on or about August 20,98 @ .81/sh. We have not received any form of
compensation for our opinioned recommendation. We currently hold a position
in FPCX and may buy, sell or hold according to our investment objectives! We
are currently monitoring a position in a specified portfolio for % gain
performance.
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