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Non-Tech : Web Capital Group (WBCG), mini-CMGI
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To: Toby Zidle who wrote (13)4/15/2000 3:27:00 PM
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Yes, I'm long a few thousand shares. I traded this puppy last year and picked up a few thousand shares south of $4.00. I sold some during the latest runup to $14 and have a couple thousand left.

I also received restricted shares of USLAB, (SAOL) Saraonline SLNN and the whole pea soup of names that Garret Krause came up with.

The restricted stocks do not trade and the others...SLNN, WBCG(E) trade on the pink sheets which is not very liquid but is almost like a market for low quality stock in private transactions.

My reading on what happened recently is that Krause tried to get investment bankers to underwrite his dreams and they told him to take a hike and get back to them when he has NASD quality companies instead of the reverse shells that he was calling IPOs.

I think he was advised to merge all the shells (SLNN, SHAL,WBCGE,USLAB...) into WBCV, clean up the books, get real financing and have the companies produce either products or services and then he can file registration with the SEC and then IPO WBCV. In the meantime all the shells are or have been merged into WBCV which is a non-public (pre-IPO) company. Its shares are not tradable.

The intention is to have an IPO later this year. I think he has filed for IPO registration with the SEC.

I gather all this info by reading between the lines of their press releases and for some of the actions they have taken. These are not necessarily facts but are my opinion.
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