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

To: Billsig who wrote (46)	2/12/1999 1:44:00 AM
From: Ming Z Chen	Read Replies (1) \| Respond to of 345

Billsig: Flashnet Currently own 329k shares =11%. So current total share is about 3m. Flashnet file to sell $46m stock at IPO. With average IPO price about $15, Flashnet have to sell every single share to get $46M. So the fact is Flashnet have increase total share number and sell portion of it's stake. With tipical co IPO 15% to 25% stake, Flashnet have to increase share number 4X to 5X current 3M. So after IPO PWCC will own about 8% to 9% of 15M share = about 1.2M share. Each PWCC own .4 share of Flashnet. Assume FLAS double IPO price $15 to $30. Each PWCC own $12 of FLAS. This is the correct MATH. Ming Chen