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Technology Stocks : ADFLEX SOLUTIONS ( AFLX ) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (651)	5/6/1999 5:45:00 PM
From: Dave Mansfield	Read Replies (1) \| Respond to of 718

Douglas, why is this company selling at 30% or so of its book value? I'll take a stab at that. A lot of the book value is composed of plant & equipment and inventory. And if that is carried at book value (cost minus depreciation) instead of market value, it might be overstated. I've been burned by this on at least two separate occasions. Price to book is not necessarily a good measure of value and book value is not necessarily a good floor. Dave

To: Zeev Hed who wrote (651)	5/6/1999 7:03:00 PM
From: Paul Winston	Respond to of 718

I believe it is because everyone is waiting to see if ADFlex will achieve the cost savings that they expect from the new Thailand facility. Also, with a Far East presence and facilities will ADFlex be able to sell more (at a higher profit margin) to OEMs in the Far East? Not meeting their loan covenants did not help the stock price either. I'm in with a small position purchased at 2 1/8 in early April. If they tank down to 1 3/8 again, I will probably stock up. -- Paul.

To: Zeev Hed who wrote (651)	5/7/1999 2:35:00 AM
From: PAR	Respond to of 718

Book value ? I like the example of a money with a Cray. Start this 'enterprise' and sell 1 million shares at $10/share to pay for the equipment=Cray. Would you still invest in the company if I offered you the shares at $5? (You may say 'yes' but only to sell the computer and hope for a profit.)

To: Zeev Hed who wrote (651)	5/7/1999 11:54:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 718

Zeev, Fear of bankruptcy- but backlog on orders increased last quarter- you're betting that the increased backlog will lead them out of the "hole". Also still some pressure on margins. Byt Zeev there are so many cheap small cap tech biotech stocks here that at least some of them have to be big winners... Also check out MASK and UCOR, two more I have been buying a few shares on pullbacks.... Sincerely, Doug F.