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Technology Stocks : Point West Capital (PWCC) -- Ignore unavailable to you. Want to Upgrade?

To: .com who wrote (8)	2/1/1999 6:43:00 PM
From: Tibor	Read Replies (1) \| Respond to of 345

I kind of disagree with that calculation. Mathematically it does makes sense. But think about this. If Flashnet is going to start to trade in the range of recent ISP IPOs, it could well have a market cap. of $600m, based on subscriber multiples. We do not know the size of the dilution, but say, PWCC's holding drops from 11 to 8 percent. That is still a $50m FLAS value in PWCC. With current market cap of $44m and book value of $22m you cant go wrong. Especially not with a float of 600,000 shares.