The following material represents the cover page and summary of the prospectus for the initial public offering of the Pest Investigation Control Corporation (PICC), which is going public tomorrow with a firm commitment initial public offering managed by the investment banking firm of Erlanger and Ritter. Answer the following questions:

a. Assume that you know nothing about PICC other than the information contained in the prospectus. Based on your knowledge of finance, what is your prediction for the price of PICC tomorrow? Provide a short explanation of why you think this will occur.

b. Assume that you have several thousand dollars to invest. When you get home from class tonight, you find that your stockbroker, whom you have not talked to for weeks, has called. She has left a message that PICC is going public tomorrow and that she can get you several hundred shares at the offering price if you call her back first thing in the morning. Discuss the merits of this opportunity.

PROSPECTUS PICC

200,000 shares

PEST INVESTIGATION CONTROL CORPORATION

Of the shares being offered hereby, all 200,000 are being sold by the Pest investigation Control Corporation, Inc. (€œthe Company€). Before the offering there has been no public market for the shares of PICC, and no guarantee can be given that any such market will develop.

These securities have not been approved or disapproved by the SEC not has the commission passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

Before deducting expenses estimated at $27,000 and payable by the Company

This is an initial public offering. The common shares are being offered, subject to prior sale, when, as, and if delivered to and accepted by the underwriters and subject to approval of certain legal matters by their Counsel and by Counsel for the Company. The Underwriters reserve the right to withdraw, cancel, or modify such offer and to reject offers in whole or in part.

Erlanger and Ritter, Investment Bankers

July 12, 2008

Prospectus Summary

The Company The post investigation Control Corporation (PICC) breeds and markets toads and tree frogs as ecologically safe insect-control mechanisms.

The Offering 200,000 shares of common stock, no par value

Listing The Company will seek listing on NASDAQ and will trade over the counter.

Shares OutstandingAs of June 30, 2008, 400,000 shares of common stock were outstanding. After the offering, 600,000 shares of common stock will be outstanding.

Use of ProceedsTo finance expansion of inventory and receivables and general working capital, and to pay for country club memberships for certain finance professors.

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Price to Public $11.00 $2,200,000 Proceeds to Company" 59.90 $1,980,000 Underuriting Per share Total Discount $1.10 $220,000 Selected Financia! information (amounts in thousands except per-share data) Fiscal Year Ended June 30 2006 $60.00 3.80 2007 2008 Revenues Net earnings Earnings per share $120.00 $240.00 36.10 09 15.90 04 As of June 30, 2008 As Adjusted for This Offering $1,961 2,464 2,376 Actual Working capital Totai assets Stockholders' equity 51 423