FirstWave Technologies (FSTW) Message Board

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Technology Stocks : FirstWave Technologies (FSTW)

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To: McNabb Brothers who wrote (1968)	3/19/2000 6:26:00 PM
From: Roger A. Babb	Read Replies (1) of 9677

Hank & All, I could not mention on the thread that I had sold some shares until it became public knowledge. I sold an amount equal to the number of options that I have earned so that my total position, including vested and unvested options, has not changed. My confidence in Firstwave has not changed either. My reason for selling shares was to invest additional money in a private placement for a company of which I am CEO. See: palm.comax.com and babbhomes.com (still under construction) If you look at the investor presentation: palm.comax.com and in particular slide #49 palm.comax.com you will see that this new website uses Firstwave products and potentially can influence vendors on the website to use Firstwave products. All "pie in the sky" at the moment, and I am not making any predictions as to the outcome. At Firstwave (as with most Nasdaq companies) stock options are one of the most important components of compensation packages and it is to be expected that they will sell stock from time to time. Stock options are a key factor in attracting top people and it would be unrealistic to expect them to never sell any. Reports of Insider Selling often don't give you the full information. The reports that are filed to report insider selling do not report the vested and unvested holdings of the seller. In Judi's case, she sold 12,000 share of the almost 20,000 shares she could have sold. She did not sell almost 8,000 shares that were fully vested. Judi's options are a matter of public record. She still has options on approximately 38,000 shares that will vest at very favorable rates. Judi said that she sold some of her vested options because she has just recently purchased a new home and she wanted to cash in a little of her gains to fund her two children's private school attendance. FWIW, I covered my SEBL short for a small profit during last week's dip but will short again when it's current rally runs out of steam. There are a lot of folks, including my broker, who agree with you that my SEBL shorts are a bad idea.

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