Net Perceptions, Inc. (NETP) Message Board

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Technology Stocks : Net Perceptions, Inc. (NETP)

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To: Marq Spencer who wrote (2784)	8/23/2000 8:20:02 PM
From: rupert1	Read Replies (1) of 2908

marq: In earlier posts, I have given fuller and more detailed information about Vulcan Ventures. For example see my post: Message 14156547 One of the functions of a board like this is to repeat information because the "conversation" is ongoing with discussants coming and going. So I welcome your repeating the content of my earlier posts. You were right to correct me on the price Vulcan paid. I was relying on memory recently affected by looking at the price some of the insiders paid. My main point in citing the price was to emphasise that at a selling price of about $11 Vulcan Ventures was doing very well out of a pre-IPO investment and needed no further reason for selling than that and its stated objective to diversify. I am not sure what you mean when you say Vulcan Ventures has sold "at regular intervals" after its 1999 dispositions. From memory, it sold in December 1999 and January 2000 and did not sell again until the middle of July 2000. Furthermore, there was a ban on VC sales from the announcement of the SPO in February until 90 days after's its completion - which took it to about the third week of June. Despite this I would be interested if you can point to any regular sales apart from those I mentioned. All my calculations have been qualifed by the statement that the sources of information are inadequate and I would welcome information - I have also written to NETP for guidance. If you reply perhaps you could give your calculation of what what number of shares Vulcan Ventures has remaining. In my earlier posts I pointed out that the only source I had was Insider Trader and it was not reliable. I asked if anyone had other reliable sources of information. You say the information is publicly available. Perhaps you could give an accessible source? If you look at Insider Trader now, it appears to show that the 2.3 million shares which you refer to as Vulcan Venture shares were obtained once by by VV and once by Paul Allen - there may be some rubric I am missing but it appears to be a double entry. Also, Insider Trader does not now record the December and January sales even though it did record them at the time. As for the sale by CEO Snyder. On Raging Bull and here I raised concerns about the SPO including sales by insiders. My views are probably well known to regular readers and I won't repeat them. For what it's worth, Snyder and one other executive did withdraw 50% of their original offering from the sale. Although no reason was given at the time, the general assumption was that they were not satisfied with the expected price. I think the price was $51 the day the SPO was announced and although it did go to $59 a few days later, it had dropped to $35 in the days leading up the close and it popped up again to $45.25 for the first tranche of new shares and $42 for the second tranche of insider shares, only a day before the final sales.

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