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Technology Stocks : Sequoia Software Corp. (SQSW)
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To: Chartgod who wrote (99)3/21/2001 4:47:47 PM
From: Glenn Petersen   of 102
 
James, I do recall periodically bumping into you, probably more as a lurker. We recently bumped into each other on the NPLI thread. I still owe you a response on that one. I want to take another look at it tonight.

SQSW was fortunate that they had some technology that was worth acquiring. Many of the other dot com bombs, particularly in the retail sector, will end up with nothing. I have found it interesting to watch some of these dot com bombs try to reinvent themselves, particularly the ones that still have some cash. BTBC is a case in point. Late last year they announced that IVAX Corp was going to merge one of their subsidiaries, IVAX Diagnostics, into the shell of BTBC. BTBC had about $2.50 per share in cash at the time of the merger and the stock was at $1.50. It took four months to close the deal and the stock inched up to $3 in anticipation. The transaction closed last Wednesday, the symbol was changed to IVD and the company announced a stock buyback. IVD spiked up to $4.80 yesterday morning, though it was down hard yesterday afternoon and today. The BTBC shareholders got some value for the shell and IVAX was able to take a sub public (one that had no realistic chance of going public through the normal process) and give it access to some cash. A win win. NPLI might have the same potential. You might also want to look at LCTO, which is doing a similar transaction, though it appears that the various parties are all losing money. I have posted some materials on the LCTO thread, though I don't want to give you the impression that I am pumping it. There is a lot of risk with LCTO. My normal investments have two digits and no decimals. LOL.
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