02/16/00 WPNE - Internet
Squelch the Buyout Rumor (Once Again)
by: RickJ_65 (34/M/Morristown, NJ) 2/15/00 8:58 pm
Msg: 8682 of 8757
I spoke with Christine Cox today regarding many many questions, issues and clarifications I have. One of those issues that came up that I never even intended on getting into was the buyout rumors.
I don't know how to emphasize this any clearer...THERE IS NO BUYOUT OF WPNE!!!!! It is, in fact, a rumor...a 6-12 month old recirculating rumor. She even joked with me something to the effect of "OK, who do they (the BBs) have buying us this week?" Unless Killko is keeping this rather important and business altering info from his own CFO, THERE IS NO BUYOUT!!!!!!!!!!!!!!!!!!!!!!
Call IR yourselves...they make it absolutely, perfectly, screamingly clear!!!! They won't even tease you with a "no comment" or a "we don't comment on rumors" answer. THEY FLAT OUT DENY AND LAUGH AT THE RUMORS!!!!
The people in this company have worked far too hard (and they're working a LOT harder more recently according to Ms. Cox) and have struggled to lead WPNE into the position it is in now. The business is in complete transition. As she stated, "we're just getting out of the starting gates." They know the value of this company and its technology. They know ALL OF THE ISPS LINING UP TO TEST THEIR SOFTWARE (and she said that the ISP interest in WPNE's products is "OVERWHELMING". THEY KNOW WHAT DOLLARS THEIR ASP BUSINESS WILL COMMAND IN THE FUTURE BECAUSE THEY KNOW WHO THEY ARE PARTNERING WITH AND WHO IS LINING UP TO GET IN ON THE VC WAVE.
OK, I'm starting to sound a bit like T4L here, but I can't emphasize to everyone enough that this company has the direction, has the focus, has the vision, has the products, has the technology, has the expertise, has the market, has the money, has the partners, has the ISPs and has the future in the palm of their hands! THEY WILL NOT SELL THIS POSITION OF LEVERAGE AT THIS TIME.
WPNE is small (for now), but WPNE is not stupid (and they certainly aren't desperate).
Think about it,
Rick
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Part of Wpne's SEC filing Yesterday
by: MakeitHappn1 1/28/00 6:09 am
Msg: 7788 of 8757
ANTI-TAKEOVER EFFECTS OF PROVISIONS OF OUR CHARTER, OUR BY-LAWS AND DELAWARE LAW
Our charter and by-laws contain provisions that could discourage potential
takeover attempts and make more difficult the acquisition of a substantial block
of the common stock. Our charter authorizes the directors to issue, without
stockholder approval, shares of preferred stock in one or more series and to fix
the voting powers, designations, preferences and rights (and the restrictions of
those preferences and rights) of the shares of each such series. Our charter
provides that stockholders may act only at meetings of stockholders and not by
written consent in lieu of a stockholders' meeting. Our by-laws provide that
nominations for directors may not be made by stockholders at any annual or
special meeting thereof unless the stockholder intending to make a nomination
notifies us of its intentions a specified number of days in advance of the
meeting and furnishes to us information regarding itself and the intended
nominee. Our by-laws also provide that special meetings of our stockholders may
be called only by the President and must be called by the President or the
Secretary at the written request of a majority of the directors. Our by-laws
also require a stockholder to provide to our Secretary
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advance notice of business to be brought by such stockholder before any
stockholder meeting as well as information regarding the stockholder and others
known to support the proposal and any material interest they may have in the
proposed business. These provisions could delay stockholder actions that are
favored by the holders of a majority of the outstanding stock until the next
stockholders' meeting. These provisions may also discourage another person or
entity from making a tender offer for our common stock, because the person or
entity, even after acquiring a majority of the outstanding stock, could only
take action at a duly called stockholders' meeting and not by written consent.
We are subject to Section 203 of the Delaware General Corporation Law which,
subject to certain exceptions, prohibits a Delaware corporation from engaging in
any business combination with any interested stockholder for a period of three
years following the date that such stockholder became an interested stockholder,
unless;
- prior to such date, the board of directors of the corporation approved
either the business combination or the transaction which resulted in the
stockholder becoming an interested stockholder;
- upon consummation of the transaction which resulted in the stockholder
becoming an interested stockholder, the interested stockholder owned at
least 85% of the voting stock of the corporation outstanding at the time
the transaction commenced, excluding for purposes of determining the
number of shares outstanding those shares owned (a) by persons who are
directors and also officers and (b) by employee stock plans in which
employee participants do not have the right to determine confidentially
whether shares held subject to the plan will be tendered in a tender or
exchange offer; or
- on or subsequent to such date, the business combination is approved by the
board of directors and authorized at an annual or special meeting of
stockholders, and not by written consent, by the affirmative vote of at
least two-thirds of the outstanding voting stock which is not owned by the
interested stockholder. The application of Section 203 may limit the
ability of stockholders to approve a transaction that they may deem to be
in their best interests.
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The Next News
by: twothousandhumbleopinions 2/16/00 9:23 am
Msg: 8698 of 8757
I am one who thinks that coverage is probably one of the next big news items, but I had some other thoughts.
***Who here among us expected the Freeserve deal, the Nortel deal or the FVCX deal? Expect the unexpected while we are waiting for the NOC unveiling and disclosure of partners.
**During the conference call Killo and Christine Cox both stated that they were in the final stages of negotiating with co-location partners and broadband providors. Killko also mentioned HARDWARE manufacturers.
This means to me that some of the most compelling news we may here in the short term
may not have been finalized yet. I was personally intrigued by Stockspec's post yesterday.
**After all of the speculation concerning the Linux product Killko's response to questions
concerning Linux seemed a bit less exciting than I would have expected. He remarked that the NT product(can't recall his exact words) was still important. Tomorrow is the day that Windows 2000 comes out and I guess we need to stay tuned to see if their is anything to the rumors we have seen on this board concerning
the inclusion of CUSEEME into Windows 2000. (I am personally not convinced, though I speculate there may be a link with maybe Meeting Point.) I am not versed enough on the technical side to really make the best speculation.
** As T4 said the other night White Pine would
take a nice ride up with the release of the first ISP.(I believe that they have previously referred to their product as "agnostic" and scalable.Also there is a possibility for several agreements according to their cc.)
Expect the unexpected. These were not finalized as of the cc and they may not know who will be the first.( I am personally most interested in these developments.)The time is at hand.
Long and strong.
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