American Green Inc (ERBB)

[t d j]

STEHSUCKER,
I think your math is right on the numbers. From what I have been told, my own valuation is about $.20 per share for every 150 mil CDs protected. The number in the PR this AM represented ~25% of Sony/BMG and the independents. If Universal ramps up to the same number, then a pps of $.40 would be my target. IF everyone likes the product by summer, then I am hoping for an increase in commitment from the majors to ~50% by the Christmas season with a price target of $.80.

This does not include any possible revenue from kiosks, music download copy management, DVDs or other possible revenue sources.

Given the above numbers and after having visited the company on several occasions, my goal is $1.00 in the next 12 months. One more thing to remember is that the cost to run the company does not necessarily go up as the number of CDs protected goes up. There aren’t any additional costs – the software is done (although they continue to improve it).

tj