Value Microcaps Motherboard

[researcher59]

hweb: ETEC looks very cheap at $2.10 and I'm still holding my shares awaiting the combined financials of the new merged Company. ETEC alone has fully taxed and diluted EPS of about $0.44 for the trailing 4 quarters ended June. We already know that Westwood has higher revenues than Emtec and their shareholders will own about 55% of the new Company. I doubt Westwood's profitability is as strong as Emtec's, but they must be quite profitable considering that the investment bank, Hyde Park Capital, felt the 55%/45% ownership split was fair ....

From the PR ....

Hyde Park Capital Advisors, LLC is pleased to announce it has rendered a fairness opinion to the Board of Directors of Emtec, Inc. in its recently announced merger with DARR Westwood Technology Corporation, Inc.

Upon effectiveness of the merger, which is expected to occur within the next several weeks, DARR Westwood's shareholders will acquire approximately 55% of Emtec's then issued and outstanding shares of common stock

The combined company will continue to operate as Emtec under the ticker symbol ETEC. Westwood's revenues for the twelve months ended August 31, 2004 were $129.87 million. Emtec's revenues for its fiscal year ended March 31, 2005 were $112.70 million.