Timberline Resources Corp (TLRS)

[Amigo Mike]

Swapper,

How can you make your earnings assumption when you do not know the profitability of the company or the structure of debt/equity and cash in order to fund purchase ???

Profitability and how it is paid for may significantly alter the level of contribution per share going forward.

I'm looking at roughly $140 million in annualized revenues for the combined company, but the net profit is unknown. I could guess from your statement that potentially 15% makes it to the bottomline for SMD after taxes. That would be ~$15 million net divided by over 30 million out now. But there are bound to be more outstanding shares with the closure of this deal.

Amigo Mike