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Technology Stocks : Cornerstone Internet Solutions (CNRS)
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To: Ashley800 who wrote (120)3/19/2000 11:36:00 PM
From: Glenn Petersen   of 131
 
Before we get too excited about CNRS, two thoughts:

1) The money raised for FOODgalaxy.com did not come from any strategic investors. A portion came from management and the directors. We should probably assume that they cut themselves a good deal.
2) In addition to the 25 million shares currently outstanding, there is a preferred issue that is convertible into another 10 million shares. From the last Form 10-Q:"As of November 30, 1999, there were 8,040 shares of Class D Preferred Stock issued and outstanding and convertible into 10,050,000 shares of Common Stock."

Too bad. The above items probably explain why the stock didn't pop on Friday.
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