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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (5006)	5/7/1999 6:06:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Kirk: No, your numbers have not been adjusted for the merger. Instead they represent SFAM as a stand alone. Book is around $13 adjusted for the merger and cash is around $4.50. Burn rate is decreasing as new technology facility has been completed. It may be another UTEK in that it will take longer to perform. UTEK, stripped of all its technology promises and ignoring the disk drive side, is a late cycle semiconductor capacity play. SFAM is a turnaround story and the cheap price of the stock more than reflects that story. Re: "Do you think the conference and limited audience is their way of trying to "reward" analysts that have been nice to them?" No, companies are paranoid about shareholder lawsuits. This conference promises to get into the nitty gritty of the company business plan and the company may feel that the give and take of such a call would be diminished if the public was allowed on the call. Also, they might prefer not to have a record of the call (replay) so they can talk openly and honestly. Analysts will not sue them for saying something that was projected but that turned out to be incorrect. I do not agree with this position from my vantage point as a shareholder. Re: "You still have a strong buy on it? 8)" Yes, with patience required but not necessarily needed. Short term price target is $22.00.