new intevia model, page-2

ZPM

Assuming a 45% return on gross only there should be US$28M from Intevia along with supplementation from M&A to the tune of twice that so that ideally CS will be placing stock to their corporate clients based on a combined income of around US$75M or so with about 50 M shares or roughly US$1.50/share. If the p/e assumed is 15 for placement to the clients then my assumption of a strike price of over US$20 holds and so does my assumption of the scramble from said clients since there will be an expectation of a much higher multiple post NASDAQ and reasonably based on expected growth to a p/e of 40-50. We may have to wait until 2009 or 2010 to see prices >US$100/share but as night follows day we will see them.