Value Microcaps Free-For-All

[jwbstock]

AASR.OB: one more important thing

Note that CSFB owns a lot of AASR.OB. In the company's filings, it appears that CSFB has the option to take the company private at a fair market value. This may cap the upside to the shares (assuming they offer a price near book value, which may be beefed up a little in the near future as they retain earnings). My guess is that if they really plan to take this private, it will happen in 2005. If it doesn't happen this year, it's because CSFB sees more upside to be gained from the large stock ownership than from harvesting the cash flows. I would expect the company to remain public, with CSFB slowly unwinding their stake.

JWB