To All> Something smells worse than rotten sardines , re> AOL/XCIT deal, re>The shares are issuable upon conversion of 1,950,000 shares of preferred stock issued by Excite to AOL in connection with an asset acquisition that was consummated on March 27, 1996. << from Reuters april 30 release: and there is much more..JUST what asset acquisitions are they "not talking about "
asset acquisitions ? just what did XCIT get from AOL..back in march of 96 ? were is that news...this looks like a shell game..
AOL is in trouble cash wise, and this looks like a transfusion..of sorts but also a rip off of the XCIT share holders, to much of this just don't make sense to me, but you can bet if 21% of XCIT goes up for sale she is subject to wind up as a penny stock !
I can't believe that with the registration news out that she hasn't already tanked, I guess many people are slow on the take of this, yet the bigger investors knew it was coming some time ago and bailed out in FEB..At best I see xcit "maybe" holding $5..I'm going to short her Monday morn, if she don't die before the open.
Now you know why so many of us say AOL sucks.
In spite of my longer term short position on AOL, JAN98 puts,
on April 28th I posted I was buying calls ( she was at 42 then )
I sold half thoes calls Friday, but kinda expect her to go higher
early this week. she could get to 50 or more early this week,
I'll grab puts.."when the volume get very high and she stops climbing,
with that high volume it's put buying time..but june or july puts..may is now to risky, however I might also increase my put position
in the Jan98..AOL is going to be in the courts before
then, and she is going to lose some of the cases, I doubt the
juries will be a nice as the AGs have been.
Big "Pedophile" case pending in Florida that looks bad for AOL
just wait till it gets in court. Well if you wait that long you'l
likley miss the fall..as I think that one will hit her harder than
the shareholder cases..
Jim |
