<Of the 6.3 million shares to be
sold in the offering, 3.4 million shares are being sold by the
Company, and the rest are being sold by selling stockholders,
including IDT Corporation (NASDAQ:IDTC), Net2Phone's majority
shareholder, who will be selling 2.2 million shares in the offering.>
Now someone correct me if I am wrong but an offering is a certain quantity of shares, in our case 2.2 of the 6.3 million, "offered" to the public for sale. It does not say sold to 3rd party, or MSFT , or AOL as I had thought, er....hoped. Offering means to the public, no? From NTOP release it states for $51.50, now with 6.3 million more shares in the float how are they going to get $51.50 when they don't have it now? Something is missing, this can't be so incredibly stupid, something is missing. |
