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Non-Tech : BJ's Restaurants Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Lhn5 who wrote (354)	2/20/1999 1:13:00 AM
From: Lhn5	Read Replies (1) \| Respond to of 865

More careful calculations: Assume current stock price of $1.50. 1.25 million new shares times $1.50 = $1.875 million worth of new stock issued. $1.875 million minus the $1.0 million cash obtained leaves the warrants submitted worth the difference or $875,000. $875,000/3.2 million warrants = $0.273 per warrant. Much higher than the current market value, but still possibly debatable as to what the intrinsic or future value might be. Consider that: The dilution is limited and not based on floorless convertible. Expansion can perhaps proceed at a much faster rate and without interest expenses. More expensive 'showcase' venues may now be accessible...it remains to be seen exactly what the Las Vegas connection of ASSI is. Even just the three new locations alone already on the board for first half of 1998 may increase revenues by 30% (my guess). Anything above could be wrong. Thoughts? I would definitely like to know what if any limits are on ASSI regarding selling of these shares in the future. And what changed the ASSI mind regarding gambling. Has ASSI converted to a new religion? Considering the negative responses on this and the Yahoo board today, the trading volume today was not particularly impressive. And certainly us posters make up a very small minority of shareholders.