Replies to post #89 on China Armco Metals Inc. (CNAM)

[viking86]

Rich: Thanks for the calc., numbers look good. Since Q1 is almost over and they havent announced any additional contract, I believe you can try figure Q1 out on this basis. There's also 13.2M rev. from 4Q09 to be recognized in Q1. I would use a net margin of 5% on the reselling business and see how much that adds up to. But 1.3eps for 2010 is quite possible I think, esp. with the FD assumed at 14.8M shares that may be high as Brad pointed out.