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Technology Stocks : Point West Capital (PWCC) -- Ignore unavailable to you. Want to Upgrade?

To: Rick Dudley who wrote (334)	5/29/1999 8:37:00 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 345

The fate of PWCC is inexorably linked to FLAS, which is down 62% from its high of 51 1/2. The 1,120,266 shares of FLAS held by PWCC have a gross value of approximately $22.125 MM. Discount that amount by 40% to account for liquidity and tax issues, and you have a value of $13.275 MM, or $3.99 per PWCC share. I don't remember what else, if anything, PWCC has in the pipeline, but it does not look like a compelling investment. I don't own any PWCC and the above is JMHO. I did play it as a successful "back door" play prior to the FLAS IPO.