Forum Archive Index - September 2003

["Fiona Phibbs" <fibz@xtra.co.nz>]

Hi James

The only ones that will be getting rich here are the original owners who get
free shares for a company whose liabilities are greater than its assets!
The price to sales multiple is off the scale, can't value it with a PE as
they have no earnings!  And I thought it was 2003 not 1986 - must be in a
time warp.  The only worrying thing for me is that I own shares in DPC who
own the subsidiary underwriter and promoter, Direct Broking and who have
stated that there is "considerable interest" in the float. Joe public must
be drinking too much of the companys product.

Cheers Dean

----- Original Message -----
From: James Sherbert <james_sherbert@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, 25 September 2003 11:50
Subject: Re: [sharechat] 42 Below IPO


> Just finished reading the prospectus. What a great read ;0)
>
> I would love to know if anyone has an opinion on it.
>
> In short, I like the business; premium product with a great branding story
> and potential to put NZ on the map;  but am very skeptical that any new
> shareholders will ever make a return on it.
>
> 121m shares + 48.3m warrants @ 50c = EV of $84.7m. Assume a rough revenue
> muliple of 2 then they need annual revenues of $42.3m to support this.
> Propsectus forcast for next year; $4.4m revenue.
>
> Wonder what Michael Erceg thinks of it??
>
> James
>
>
>
> >From: Robin Benson <rob@hammerheadmedia.co.uk>
> >Reply-To: sharechat@sharechat.co.nz
> >To: sharechat@sharechat.co.nz
> >Subject: [sharechat] 42 Below IPO
> >Date: Tue, 23 Sep 2003 20:27:13 +0100
> >
> >Good morning
> >
> >Gaynor on 42 Below float, just in case anybody is seriously considering
it
> >:O)
> >
> > http://tinyurl.com/oedn
> >
> >Robin
> >
> >
>
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