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Technology Stocks : CMGI What is the latest news on this stock?
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To: Mark Peterson CPA who wrote (15918)1/22/2000 10:17:00 AM
From: TimbaBear  Read Replies (1) of 19700
 
Mark, Thank you for your response.

I think it's the 32 million extra shares of ENGA being issued that makes it different in my mind....I mean if it is just a shuffling around of assets from one pocket to another, the extra shares are an added element that wasn't there prior to the transaction....and if, some time in the future, CMGI sells ENGA for "X" dollars per share....say, 126/share, would the IRS want this current treatment revisited?

By the way, I got the 126 figure from taking the market cap of DCLK as of yesterday's closing price and dividing it by the new number of shares of ENGA. That would assume both companies are valued the same....a stretch right now from a revenue comparison, but maybe not so much of a stretch a little ways down the road.

You are undoubtedly correct in your interpretation if the intentions of CMGI and it's application under the Tax Code, but DW has still has indicated value that apparently has not flowed through yet to CMGI pricing and that makes me feel as though there has just been a huge foundation that has just been built under the share price of CMGI....downside from here will be real tough to come by....I added more to my position yesterday when this became clear to me.
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