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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (870)	4/18/1999 9:59:00 PM
From: xcr600	Respond to of 1305

Tom, as always, your work is exceptional! x

To: Tom Hua who wrote (870)	4/19/1999 4:04:00 AM
From: Top Jim	Read Replies (2) \| Respond to of 1305

Tom, you keep stating matter-of-factly that WCAP will report a loss of $1.50. Last week you said you were going to put out an analysis as to how you got to that number. Did I miss it? True, COOL has depreciated since 12/31. But since they were still in lockup, WCAP only recognized COOL at $18.13 per share. My numbers show that they have $.25 per share GAIN still unrecognized in COOL as of the end of last quarter (1,465,194 shares @$19 ea, less $1.5M basis = $5.25 EPS). Now that they are out of lockup, there is no reason to suggest WCAP won't recognize the remainder. They may also elect to recognize some gains from ROWE where they have earned $1.02. To me it looks like they'll report another nice gain. Let us know how you are basing your calculations for a $1.50 loss. Also, what do you mean about "the illusion of a low PE" -- there's no illusion in the fact that WCAP has earned >$6 per share YTD. If MPTH and JWEB come off at $40 as you suggest, then that's another $3 per share and very close to the $10 our YHOO poster is hoping for. A $22 COOL price would get WCAP over $10 per share. COOL has been to $45+. TJ