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Strategies & Market Trends : cash-rich dot bombs

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To: blankmind who wrote (34)	12/17/2000 8:19:16 PM
From: Glenn Petersen	Read Replies (2) of 184

As I said on the QUOT thread, you may want to wait until the inevitable delisting notification before starting a position in QUOT. I am in agreement with you that they are a probably long term winner. While not selling for less than its cash value, you might want to take a look at OPAY, which is currently trading at 5 5/16. As of September 30, 2000, OPAY had $3.32 in cash per share. If you net out their noncash charges (primarily stock compensation charges) with their losses for the first nine months of 2000, the burn rate approximates $3.4 million per quarter. They would seem to have a viable business, a lock on their niche and the cliched "path to profitability." My guess is that they become cash flow positive in 2001. The IRS will be mailing out their tax forms during the second week in January which should generate some publicity for OPAY. They processed over $630 million in federal tax payments last spring and they have been adding a steady stream of new clients. The stock ran up last year in anticipation of the IRS mailing. Different times, though not a lot of risk at these levels.

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