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

To: Impeccable who wrote (18)	2/2/1999 12:29:00 AM
From: E. M. Edds	Read Replies (1) \| Respond to of 345

Alas, a voice of reason. I suppose he just liked the sound of "thirty", or maybe he saw GEEK was at $36, but he didn't like three syllables. Of course, GEEK is at $36, but it has well over twice the shares outstanding as will Flashnet. AND, GEEK ran to $61, so if you multiply that by two you get $122. $122 X 230000 is $12 a share from FLAS alone. But, even that's not fair as Flashnet has significantly more customers than GEEK by a multiple of 3. Would it be fair to therefore multiply $12 by 3 to get $36? I don't know. Then, you take into consideration that PWCC has a book value of over $6 per share, and cash of $2 per share, are we at $42? Then, my favorite of all, is internet hysteria. I too am looking for $25 conservatively, and if hysteria sets in, who knows?

To: Impeccable who wrote (18)	2/2/1999 8:57:00 AM
From: .com	Respond to of 345

I guess "impeccable" is not a term used to describe your financial analysis skills or your reading level. I used $30 as an example of where FLAS could trade at for a mathmatical model to determine the value of FLAS to PWCC ($3). I also used a $60 value of FLAS as an example (worth $6 alone). I used the potential trading price of FLAS and mutliplied it times the number of shares that PWCC has and then divided this figure by the number of share PWCC has. I am not even throwing in there the discount factor that gets built into arbitraging such deals (and yes, I have spoken with folks who do arb deals for a living about how to properly value such spin-offs). You, you are pulling an arbitrary market value of FLAS out of thin air. Also, I never said PWCC could not or would not trade higher. I indicated it probably will based on hype and day traders and not true value.