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[hotshot]

Schaut euch das mal an, könnte die neue Zukunft sein !!!


Con.Com (WKN 191 033)- Global Leader in Pointless Communications

Recommendation
Recommended List (NY/27.Jan.2K)

Telecoms Research Data:

(ADR Ticker / P-LESS)

Valuation
2000 2001
EV/Revenues 172,957x 172,956x
PE - -

Stock Performance (ADR)

1m 3m 12m
Absolute 616% 1,994% 4,946%
Rel S&P 500 Comp 591% 1,980% 4,818%


Outline of the Company and The Deal

Con.Com, is the leading play on the "New Economy" given its development and global leadership in Pointless Communications (PC). As such it has been the leading beneficiary of the boom in Pointless and Completely Pointless (CPC) Communications over the last year. Its development of the exciting next generation, Utterly Pointless Communication Systems (UPCS) technology, will provide important momentum into the next millennium. The finalisation of the Pointless Access Protocol (PAP) is now only months away, implying the PAP chip can soon start to be surgically installed in all customers ears. Clearly this is all mission critical to be a leading player not only in the B2B market but also the B3B market and potentially even the more exciting B4B market.

Many investors will recall the highly successful IPO of Con.Com this time last year. Con.Com is now seeking to come back to the market to raise as much capital as possible to fund CPC/UPCS and PAP developments as well as its diversification into value added rich tangential IP (Interesting Possibilities) services.

No stock has higher and therefore more attractive revenue multiples. Certainly any earnings multiple looks infinite as far out as we can see. This encouragingly means that given Con.Com has so little to start with, every acquisition will be highly accretive.

History of the Company

The Con.Com Group is the purest play on future-proof communications systems with a series of core communications technologies in separate operating entities unified under the Con.Com brand name. Con.Com even has a future-proof capital structure based on zero-coupon perpetually non-convertible preferred stock. The growth potential of this group can conservatively be said to be enormous, if not greater. Pointless communications is clearly the fastest growth segment of the communications market today, and we forecast explosive growth for the foreseeable future.

The core Con.Com pointless communications technology is based both on proprietary technology, and associated intellectual property rights (IPRs). The technology is centered on a Y2K compliant aural-communicator, patented as the Con.Com Aural-Com, a chip that is implanted in customers’ ears. This chip will be fully PAP-compliant. We remain of the firm conviction that the implant technology will lead to low churn - disconnection is feasible only through surgical removal. The IPRs are based on Con.Coms pending patents for aural reception, the ability of humans to register sounds using their ears. There remains some possibility that the patents can be extended to cover non-human hearing, but the likely revenue streams from non-human sources will be more limited given their lower spending power.

Extensive market research continues to show overwhelming interest in the Con.Com Aural-Com PAP product as evidenced by an independent survey of 10,000 people who were asked the following questions; “Do you regard your ears as a communication device and useful to your business or leisure activities?” Yes 31% No 15% Don’t Know 54%. Conversion rates of “Don’t Knows” based on further detailed questioning of the usefulness of their ear was an encouraging 16%.

New IP Services

Web-Hosting: Con Com is seizing the opportunity to become the dominant supplier of web hosting capacity world-wide through its parallel tender offers for leading super market chains and high street retailers in all significant markets. The vast square footage, combined with existing cooling and refrigeration units guarantees an "instant build" with true vertical, horizontal and tangential synergies. With a ratio of 422m per head of the population in all G20 economies, Con.Com will have approximately 1037 more space, by next Thursday, than consensus estimates currently indicate will be required in 25 years time. Even assuming our conservative forecasts of 73 websites per capita, Con.Com will still have surplus space, thus eliminating any constraint on our forecasts (note there are also strong and potentially sticky synergies with Con.Com`s fibre to the fridge technology and the simultaneous hosting of real time food sites).

PetaCentres: With limitless space available, Con.Com will be able to convert all available square footage into Peta-Cyber-Centres (PCCs) by next Monday replacing the original business plans of yesterday for Giga-Cyber-Centre (GCCs) which replaces the plan of the day before yesterday for Mega-Cyber-Centres (MCCs).

Soretooth/"Yellow Ear": One of the most interesting new areas for 2000 is the development of the Soretooth technology (sometimes known in the industry as "Yellow Ear"). This will put the much sought after fridge-to-microwave, freezer-to-fridge and maybe even microwave-to-microwave communications market within the grasp of the consumer. This clearly has the potential to revolutionise the pudding market as we know it.

"Yellow Ear" has significant potential synergies with Con.Com’s expertise in microwave and DWDM (Dense Wired Diet Method) technology also makes it the leader in the “wired-food” segment. Con.Com`s Fibre-to-the Fridge technology will allow direct down-loading of most standard food products (compression technology still can not deal with tinned or bottled food, but we expect this to be feasible shortly). Early advances in this area suggest the final break through into much talked of Pizza-on-Demand area can be implemented in the near future.

However, the insurance claims associated with the early unfortunate problems and resulting tragic consequences associated with interference problems between the aural-communicator and the new pizza delivery techniques (the origins of the "Yellow Ear" slang) have now been fully provided for.

Light-Sales: As Joe Con has said "in the fight for eye balls, Day LightTM is key". As such, moving the location of the Con.Com`s HQ to Mauritius means that Day LightTM is maximised to the benefit of share holder value.

While others struggle to build fibre, Joe Con has spotted the huge opportunity of selling colours, unconstrained by fibre ownership. This is a massive improvement on the now outdated concept of "last mile" connectivity allowing Simultaneous Full Hemisphere Coverage (SFHC). There have been some technical difficulties in harnessing what Con.Com brands Day LightTM, but we believe that Con.Com`s IPR`s are irrefutable and the potential is vast, if not greater. The income streams from patent infringement litigation promise to be at least as significant as selling the light itself. Con.Com claims ownership of all non-artificial light, which also makes it an ideal vehicle for Green investors.

We believe that with a comprehensive product portfolio, Con.Com`s customers will prove stickier – especially in full Day LightTM given the complete lack of alternative suppliers. Being a little more granular in our forecasts, we anticipate 99.9% of total revenues will come from new services, that currently don`t exist, in 10 years which just shows how much potential there is.

Virtual Hairstyles: Con.Com are also working in the area of virtual hairstyles, where by customers can select a new style everyday that can then be projected onto their head. The system relies on a nationwide roll out of Holographic Projector base stations. However, in-building coverage is proving difficult which may constrain early demand given the implications for Temporary-Baldness Syndrome (TBS).

Management

We continue to have complete confidence in management to be dramatically successful. Concerns that the founder Joe Con III has too many responsibilities in his roles as Chairman, CEO, COO, CFO and FO overlooks his immense abilities and the fact that there are no other employees – but we expect some very big names to be hired soon.

Risks

We have not been able to identify any significant risks given management`s flawless execution.

Valuation

Our preferred valuation metrics are fridge views/hours of Day LightTM and website eyeballs/square foot of food retailing space, all of which highlight Con.Com`s valuation anomaly. We totally reject outdated concepts such as PEs, given the constraints on growth of the requirement to ever generate a profit.

Based on the now widely used US technique of EV per ear calculations, the current valuation conservatively suggest 258-372% further upside.

With respect to the balance sheet, Con.Com is uniquely unencumbered by any "old economy" bricks and mortar assets. Everything is purely virtual.

The valuation is supported by DCF based on a 56% perpetual growth rate and a WACC of 0.35% assuming, quite appropriately in our view, a negative equity risk premium.




Bitte nur ernstgemeinte Kommentare.

Hotshot

[caesar69]

Ach, interessant!

Jetzt gibt`s schon B3B, wo doch gerade B2B so in ist... *lol*

Was soll das heißen? "Bitte 3 Bier"?
*lachwechundkippvomstuhl*

Nix für ungut,
Caesar

[caesar69]

Sorry,

woher hast Du die WKN? Unter "www.finanztreff.de" gibt`s die nicht.

Salve,
Caesar

[hotshot]

Demnächst gibt`s einen Tip für eine B4B Aktie, Ihr könnt gespannt sein.

Hotshot

[caesar69]

Hi Hotshot,

hiermit wiederhole ich meine Frage bezügl. der WKN (s.o.).

Gruß,
Caesar