Hi Pete, Just found this stock today. Looks very interesting. My concerns are that the forecasts for the 4th quarter and 1998 do not seem to factor in the new shares from the IPO. The June 30th earnings report had average outstanding common shares at 3,649,042. The IPO added 1,500,000 shares to that count? If you take 9 month earnings of $1,552,662 and divide by 5,100,000 shares EPS adjust down to $0.30 and assuming the new shares were issued at the start of the 3rd quarter, EPS would have come in at $0.10.|
I am not trying to throw cold water on this stock. Just trying to value the company given the new shares.
I am new to the company, so please point out any errors in the above statements. Any comments would be appreciated.
Chris Brainard .....