valuations, page-4

smm

Yeah okay gimpoo--that's fine--you use a excel spreadsheet--and so what/how does your spreadsheeet..... tell You that the figure for SMM is $9.00....

Still need to see the basis of your assessment--ie: what are your inputs, hypotheses, multiples etc--and you still ahve NOT asnswered the qstion of --What Value in Market Cap does $9.00 imply for SMM...???

Ultimately--$9.00 for SMM--as you state is a fair valuation--implies the sharemarekt implying a Market Capitalization for The Whole Company--which needs to be related back to an annualized Profot figure-- extrapolated out over normally 20 + years...

So what I would like to know--from YOUR Excel Spreadsheet --waht nubers are they...??

Awaiting your excellent replies.

Kindest Regards,



Robbo