============================: THU.FEB,980226 :============================                                                |7:9|  7:30| Equities980226 GrandHyatt .                                                                                     |7:59| BobFlaherty : tlk JohnTempleton 1 % yr | everyone contrarian .                                                        Strange times | Jones : disaster  . | .5 chance of down .4 |                                                               W Ask JT :  What is this the year of ?                                                                                      Barons Pecks bad boy : Day Durks : out late | Conseco : been shorting since                                                  41 , now 49.5 - saw Earnings rpt stil predicts goto 1 | Investment Research                                                 Wrkd BankersTrust , GoldmanSachs 35 yrs ago | Res by Majors vacuous .                                                       trying to do research on Cos have other relationships w .                                                                   Some big firm analysts pulling in M$s . 14 Majors reccomending Conseco .                                                    CNC just raised  750M$ .  E%S  .79  | overstated income .                                                                   Still thing mkt going up this yr . US in particular . Microcaps some real                                                   deal . Omega Orthodontics may 3x in months . down since IPO 120 days ago                                                  |8:11| NASDAQ:ORTH : RobertSchulhof :   was UCLA Math - then aerospace .                                                      IPO 10M4 w 7 practices , over subscirbed .                                                                                   vs  OCA ( 27 x proj earns . 2-300 practices) . TV no $s down . low mo pay .                                                      $800M mkt cap . .02 of Drs . McDonalds of Orthod .  98 est P%E 27 .                                                         not for top Docs .                                                                                                         Apple ( 20M$ incom on 30 offices ) .  $140M mkt cap . 98est P%E 22                                                           mainly advertizing like OthroCtrsAmer                                                                                      Orthalliance :  .01 of Drs . 70M$ mkt                                                                                       Omega   20M$ mkt cap . 7 offices .  20M$ Mkt Cap                                                                        120 Days : acq 8 ortho & endodonic pracices . 15 ofices 11 scaterd states .                                                 Growth plan 300k$%mo to $800k . on trajectory .                                                                             Model on target |  .29 .54 .16 %  ' Dr ' Opercost ' Oper Income                                                             Omega takes care of all employee mngt problems for Orthodontists .                                                          Patient Centered Exam . Employee relationship training .                                                                    Idle day planning .                                                                                                         .5 of all orthodontists > 50 yr old .  Less than < .5 w be replaced w                                                       grads . Declining practice prices cause of declining patient pop .                                                          Actually projected patient pop abt to feel baby boom .                                                                      Buy & merge retiring practices .                                                                                             Get $500k gross rev for 300k$ . Dr  $125k income . Merged practice $1M                                                      Merged 4 practices in Encino CA . 2 other Negotiations under way .                                                          Need to greatly increase efficience of remaing Dr , but must keep                                                           retiring Dr GoodWill .                                                                                                     Want breakeven in 98Q0 w %2 # practices as comp . .2 growth in same store                                                   rev . Want to be seen as major player .                                                                                      Installing new window pased 32bit comp sys .                                                                                Reduce eq costs . Look @ other dent specialties .                                                                           9000 practicing orthods . MSOs expected to be .25 next 5 yrs .                                                              No Govnmt control ( noone dies of crooked teeth . ) Free Mkt .                                                             Competiton  PEs : ~ 29 |                                                                                                     Supply Drs w Comp Systs & employee training . Lot of HiTek available .                                                     Cant export busn to China & BillGates wont obsolete .                                                                       An MngtSvcOrg is a partnership w Dr .                                                                                        BobSchulhof   25 yrs  . have several orthodontic productivity consultants                                                   Sonny : Tek of TurnedOn  motivation .                                                                                      Plan : Transfer & enhancement of GoodWill .                                                                                 Patients @ top of Org Chart . Remember birthdays , ticklers .                                                               Othodonics a Happy Industry .                                                                                               Tremendous momentum frm refferals |8:58|                                                                                   ?s :  how came abt ? been in busn , cnslting 25 yrs . Thought abt in `72 .                                                   OCA Pub in `95 . they said they can do too | Abe : other areas of dent ?                                                    Enodo , .6 profit . looking @ any w good margin . talking w exporting tek                                                   to Italy |  OUt @  4.5 1.5 w @ excersisable 6.6 up to 12 .                                                                  warrents ~ 1$ now .                                                                                                      |9:3| NASDAQ:CCWW . Cable&Co,WorldWide : : Italian fashion footware . sell to                                                Macy`s to MarshellFields . CBS video to be aired Mar 21 22  :                                                               AlbertoSalguchi . family castle : artist & accountant . mens Shoes since 86 .                                                Cable & Co shoes . Ptnrd w AllanKandell . Begining PricePoint .                                                             Casual but                                                                                                                  Montogranerro  Italy production . 30 - 45 day reaction time vs 120 typ .                                                    Comfortable & good ware .                                                                                                  Count AlbertoSalguchi chmn - designer : Busn 8yr old in this Co . Leather                                                    1 attitude : line of shoe like line of car . New Brand : BaccoBucci comfort                                                 .  ExBacco on www . Looking @ developing womans line & belts in future .                                                    In 8 yrs - build brands . cost a lot .  .5 of control now in own factories                                                   stitching . know how many floors to build building . Infrastructure abt                                                     done | Stratagy 10 yrs ago : need to start in US . US 5 yrs ahead of                                                        Europe . All made in Italy - want to transfer WW . FarEast : ofice in                                                       each major Country . HongKong no duty - main warehouse . ( in US , all                                                      inventory in Italy ) . India : sell tek to make shoes locally . This 1st                                                    presentation                                                                                                               |9:26| Kandell : EBIT : expect positive in 98 . Sales :                                                                      | Sales : 95 6 7 | 10.4 13.5 16.1                                                                                           Inventory of stitch uppers & components in Italy . Sell slow movers to RoW                                                  . .6 gross margin for retailers . They rent space w Ma                                                                      Keneth Cole   1.0 ,  they 1.7 growth last yr @ Macys . Have natnl sales                                                     org direct in store support . Selling to retailer is .25 of busn . making                                                   sure retailer sels to cust , .75 |                                                                                          Overnight delivery of single needed pairs of shoes . Know each retailers                                                    inventory . Trunk shoes . Track everything weekly to gear production in                                                     italy . Licensing Cable  Ties  in Hudson , Nordstroms Macys .  also small                                                   leather goods .                                                                                                             Project  98 99  .08 .18 , in 10 yrs .5 | already delivering in Canada .                                                     Milan WW sales office .                                                                                                    |9:37| MichaelBartos rejoind , head of Sales : religion . being embraced by                                                  consumers & retailers . Fashion & Tek & comfort . 175 - 225 $ mkt .                                                         classic w twist & comfort & performace like athletic co                                                                     BachoBucci - 140 -160 $ everyman`s product - selling into 50 yr olds .                                                       Exact fit Insole : finished basemt under insole . so can adjust effective                                                   width .                                                                                                                    Ex-Baco - 100 - 130 $ : extra soft - padded , younger . visual compfort .                                                   Distribution channels different ( Incredibly healthy . been building for 8                                                  yrs . real spread in dist in majors ) - just rolled out to all DaytonHud                                                    MarshellFields . Almost all Dillards , LittleRock . Shoes working Cost to                                                   cost . Had Bloomingdales to office last night . BonMarche . Lord&Taylor                                                     C.J.Clark Bostonians , Florshim .  Spiegal -  1000 independents .                                                           Bring product in on 2 mo cycle . EDI 24-48hr .95 replenishment rates .                                                      RMRs constant checking of stores .                                                                                          Speed sourcing allows longer selling season . Print GQ , 1.6M$ tot budget .                                                 Well received ad campaigns . Budget .5 .5 Cable % Bacco .                                                                  |9:54| Kandall . no retailer > .1 . w b profitable in 3rd Q . bookings .4                                                     ahead last yr . Have outpaces Kenneth Cole since start . more SKUs .                                                        ExBacco being very well received . Trading @ Book value .                                                                  Alberto : Why be interested ? Have Own product . Others Copy us . > 110                                                      people all have same kind of feeling . - close like family .                                                                Have structure in place . mngt team . w be big , but want to maintain                                                       small feeling . Woman`s shoes coming . Structure step by step growing .                                                     & need some luck . some stars working                                                                                     |9:59| BobF : how compete w Asian cost structure ? build better prod .                                                       Shoes not having to be Stiff . how ? Inovative English Welded Construction                                                  w 5 mm foam & airflow suspension . w breathing hole @ heel .                                                                Cap Structure ? Alberto has .23 of 43M shares . American Co .                                                               Pub yr ago june . Range ? 1 - .06 | Cable & Co ? In 86 like communication                                                   in new way  - culture  - Daughter B96 Florence - misspronouce name .                                                        Float  30M$                                                                                                                 Balance Sheet ? Net worth  4.5M$ . have cash .                                                                              afilliated w Securities Cap RayDirks : private placement w further offer .                                                  Needed w build factory . Pub @ 6$ by State Cap . they controld .85 of                                                       price went to 12 w warrents . went down to price now .11 . Warrents still                                                   out @ 7.20 , not trading .                                                                                                  Secondary . reverse split ? maybe | ExBacco bigest mkt  .                                                                   Harry`s Bwy & 83 . |10:16| planning Preferred convert w Ray Dirks .                                                         looking how to make equitable w current owners .                                                                          [ This is an interesting looking situation . The question that needs to be                                                   answered is why their shares are so low , and what will happen to existing                                                  equity with the planned preferred issue . ]                                                                               |10:29| OTC BB:KMGG , Frankfort&Berlin:BNN : Kaleidoscope Media : HenrySiegal                                                : did Baywatch , Fame .                                                                                                     Got in last niet from CA , needs to get to office .  .                                                                       Golf Show . The Espy .. CyberFit . Superstars of Ice . Sailor moon , Dragon                                                 Ball Anime . Tarzan Epic Adventures . Merlin series . Tape for NATB conf .                                                  WW Production & Dist . Twin Bro heads up LA . 10 series in prod & develop .                                                 Merlin w Jason Connery & Moore Daughter .  2 properties in pre production :                                                 TeamExtreme Vancouver BC product & France .                                                                                 Supermodels undercover in PuertoRico .                                                                                      2 new children series in NY . should produce this year .                                                                    4 series for 99 , 2 from BayWatch producers .                                                                               Sports div : Crunch & CyberFit  .  8 fighter contacts & LennoxLewis Mar28 .                                                 w boxing promoter . 200 hrs  skating & other golf , tennis programming                                                      Hollywod Discoveries :                                                                                                      1.9M$ pretax profit 1st 9 mo . expect increase profit sig this yr .                                                         no debt . strong foreign buyers |10:46|  CapStruct ? | 1.85 x 30 |>| 55.5                                                    | M$ mkt cap | range in yr ? .75 - 2 | 15 mkt mkrs .                                                                       Vol ? 100 - 1000 K shrs | looking to go on American Exchange in nxt 30 - 60                                                 days | cash ? > 1M$ , burn $100k % mo . Project fin off bal sheet .                                                         50 - 100K$ for demo tape | Merlin presales . w have $2M in bank in nxt 2 mo                                                 | Corinthian Grp brochure ? no relationship | Profit this yr ? yes .                                                        BobFlaherety : How avoid getting star struck & losing discipline ? keep                                                      overhead low . Has made & lost a lot of money                                                                            |10:54| NASDAC:AMAR : Amarillo Biosciences . just bk frm Taiwan : Joe Comings                                                : Greetings from Oprah . He only speaker who can spay a dog or cat . is Vet                                                 . Dogs normal temp 102 . Dog kept spiting out thermometer . Vaccine shot                                                    into breast of woman holding little dog . AMAR : Hindi for never die . since                                                84 filing patents . filed 9 INvestDrug applications for oral interferon                                                     alpha : sjogren Syndrom , Hepatitis B &C , Frbromyaligia .                                                                   96 IPO  9.4 M net  5.4 M shares .                                                                                          Interferon alpha :  well-know protein . Hep , Karposi`s , genital warts .                                                   Mice liver study showed effective oral vs injected interferon . Interferon                                                   goes to back of throat not just kidneys .                                                                                  Interferon in cattle Nasal secretions during shipping fever .                                                               12 US patents . 8 pending . 30 countries . patented ingredients ,                                                            formulation , use .                                                                                                        150 IU via loszenge vs 10E6 units inject . Spleen activated by oral interf.                                                  stable @ Rm temp .                                                                                                         Sojogren Syndrome - dry mouth  . AIDS w warts in mouth .                                                                     Veldona USA                                                                                                                 Total markets each 1-2 B$ .                                                                                                 Throat & eye Dryness improved vs placibo @ 150 beter than 450 units .                                                      Fibromyalgia :                                                                                                              Japan : Hayashibara Biochem bought significant piece of co .                                                                 Mitsubishi  - mkting .   Fujisaki Inst . Mochida Pharm .                                                                   Since 84 , 20M$ loss .                                                                                                       Big mkt for cheap interferon . only Amer tax payer can afford injectable .                                                 | ?s : Why HoffmanLaRoche inject ? make lot of money , Mechanism of action                                                   not understood . J of Interferon paper this yr . Feel can do anything w                                                     oral can do w injectable | Drs prefer inject ? Fibromyalgia just feel                                                       better . patients happier | Diabeties dry mouth ? if desease related may                                                    . 400 drugs on mkt w dry mouth side effect .                                                                                 Sales down from  2M$ down to 60000$ ? was 9M$ R&D for 9 Qs . 8 employees .                                                  studies done @ Universities . burn rate for yr 2.3M$ , not counting Phase                                                   3 . need to have FDA pre 3 meeting . may have to do 300 patients . have                                                     6.5M$ cash .  Looking at Taiwan Pharm ptnr | commercial sales ? 2001 |                                                     | Partnership ? need convincing data to make sale | continuing to get                                                        layers of patents | Alternative solns main potential competition .                                                          Profit projections ? leave card | Price ? | 5 4-5 3-10 5.4M out |%3 Japan                                                   %3 inside , %3 float .                                                                                                   |11:33| NASDAQ:CMMD : CommandSecurity BillVassell | full svce security &                                                     investigative                                                                                                               49.2 M rev ,  23.3 assets   Net Worth  .57 M | NASD CMMD .                                                                   6.7 M common  6.5$ convertable pref .                                                                                       #12 out of all Security busns . Thousands of personnel .  buy Mon&Pops .                                                    can | ammortizing %1 M$ % Q GoodWill . CashFlow positive tho .                                                              one  1.1 M bankruptcy .                                                                                                     For acq to be worthwhile , must keep customers . acq 2-3M$ cos .                                                            Like to see 12 mo retention period for customers . Otherwize get reduction                                                  in purchase price .  Has 1M shares personally .                                                                             BrooksBros . theft preventian , Aviation div 16M$ makes 1.3M$ . BA & 30                                                      others | worth more than mkt cap of whole co .                                                                             Corp investigative .  Personal & Exec protection .                                                                          ComGuard computerized scheduling , payroll , billing & mngt review .                                                        charge  .06 of billings to other Cos to provide as svc .                                                                    STAIRS training .  Get bills out overnight .                                                                                Back Office svc agreements very profitable .                                                                                OffDutyPolice services mngt .  Stamford police dept | .04 x 2E6 |>| 80000|$                                                 Will be supplying Tracker system for OffDutyPolice . 6 reps frm NYPD came                                                   to see Stamford . got contract w Stamford Sheriton thru ex police officer .                                                 ATM services : 121 independent security Cos ~ country .                                                                      3 nation wide sub-contracting w CompUSA , PepBoys , Brooks .                                                               Investigations - small .                                                                                                    400+ diversified clients . Woodstock94 .                                                                                    Trend for outsourcing security svcs . lot of consolidation . ITS , public                                                   Comp : 3 major :Pinkerton Wagon?                                                                                             37 Regional ( including CSC )                                                                                               6460 small | .4 arev grow 94-96 | bankruptcy , consolidation 97 , 1st half                                                  98 | Decrease in Workmen`s comp | been thru bunch of 1 time charges .                                                       EBITDA  -1.4 2.8 3.3 M , 95 6 7 |                                                                                           Working cap |  -.532 to 2.4M now                                                                                           Harder to hire security personnel . costs up .                                                                              Dont look @ acq of co not doing as well or better .                                                                         Rev :  almost flat 25M last 2 yrs .                                                                                        Looking to expand higher margin busns  : ATMs Aviation , Police depts .                                                      How much excess cash flow  :  $900k .   80 vehicles .                                                                       Not using stock to move forward . Would be open to merger increasing                                                        shareholder value |12:6|                                                                                                   Qs tabled to lunch . |12:15| I headed off to Mobile Computing Mag lunch .