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Technology Stocks : BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ???? -- Ignore unavailable to you. Want to Upgrade?

To: Nam, Ki Hyung who wrote (881)	3/22/1999 10:17:00 AM
From: Wayners	Respond to of 1196

To get them to add Books A Million, all you have to do is send them an email to bookstore@bestbookbuys.com and request them to add BAMM to their search engine. We all need to send them an email.

To: Nam, Ki Hyung who wrote (881)	3/22/1999 10:46:00 AM
From: Wayners	Read Replies (1) \| Respond to of 1196

<<Barnes & Noble Inc. (NYSE:BKS - news), the No. 1 U.S. bookstore chain, and German media giant Bertelsmann AG Thursday registered for an initial public offering of 15 to 20 percent of their online joint venture, barnesandnoble.com. In a filing with the U.S. Securities and Exchange Commission, barnesandnoble.com said it would offer stock valued at up to $200 million and use the proceeds to build its business.>> This means that as far as the offering goes, they are valuing the total barnesandnoble.com business at between $1.0B and $1.334B. The total BKS market cap is 68.6M shares x approx. $30 before the announcement= $2.058B. The public will obviously value the business higher when the IPO occurs. This means they are saying the online business is worth between $1.0B/$2.058B=48.6% and $1.334B/$2.058B=64.8% of the business. BAMM has a very similar online business minus some of the partnerships BKS has. Even if the online business is only worth 1/2 of the BKS online business, BAMM's online business would be valued for an IPO/spinoff at $100M or $100M/$17.4M shares=$5.75 per share. I showed earlier that BAMM with no growth was worth $8.45 a shares. So adding these numbers together we get $14.20 per share at the time of an offering. Add in a 100% markup by the public, add in $8.45 + 2 * $5.75 =$19.95. I personally think this is what BAMM is worth, about $20 per share.