dirty dozen research no agenda six flags pks nyse 15 38 an accounting financial and structural analysis january 3 2002 recommendation confidential private study not for distribution this report may be reproduced d paul cohen president tel 415 454 6985 fax 455 0295 e mail dpaulco aol com dirtydozenresearch yahoo table of contents page 1 the company 4 2 issue stock market valuation bull case summary 5 bear metrics 6 arguments & 7 fy 02 scenario 8 q3 2001 conference call highlights november 9 10 free cash flow outlook 12 capital structure issues debt financing 13 11 credit facility 14 16 piers pies preferred 17 interest expense 18 size competition 19 comparative industry competitive