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Rasica

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Rasica

Re: None

Friday, 12/02/2005 10:15:12 PM

Friday, December 02, 2005 10:15:12 PM

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For the year ended December 31, 2004, Recab International generated more than 111,750,000 Saudi Riyal (approx $29M USD).

Recab International anticipates generating $7 million of annual revenue from this acquisition.

The merging company anticipates that expansion of ARCO TEL will result in 24 sales outlets throughout Saudi Arabia and profits of $25 million per annum within a 12-16 month period.

$25,000,000 ÷ 48,163,265 = .519 cents EPS (Earning Per Share)

Multiplying that .519 cent EPS with a conservative PE Ratio of 12 and you get:

.519 x 12 PE Ratio = $6.22 per share post reverse merger

http://ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&board=CLB01219&read=269009&...


GLTA

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