CardioGenesis Corp (fka CGCP)

[jasonak]

Conservative est....(a little blue sky numbers guessing)... I think CGCP can net .750m/qtr or $3m for 2005. Current MC is about 25m giving a forward pe of 8.3 with revs conservatively at $21m...(apx 30% increase). Peers are selling for PE's exceeding 30...so if we give CGCP a conservative PE of 20 we should see $1.80 per share. This value guessing does not consider rev from the Pearl Delivery System...which according to the company will sell at higher prices than the Solar Gen2100 laser..with equal or higher margins. I think the catalyst for this stock to trade above $1.00 in the short term is for FDA approval to be announced of the Pearl System. And as we all know from listening to the CC last month the announcement of FDA approval should occur "Very soon".
In summary, given a quarter like the last one or better...and FDA approval I think we could see a share price of $3.00 or better.

I have had to average down in this position recently...due to my assumption of the stock breaking out above .70 after the 4th qtr and CC. It didn't happen...I am down to an av of .59 now and hoping for the best of course. But I think my guesses above are not to far off. We should be slapping each other on the back sometime this year.
Jason