STAR Telecommunications (STRX) Message Board

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Technology Stocks : STAR Telecommunications (STRX)

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To: DD™ who started this subject	1/30/2001 7:59:05 AM
From: SargeK	of 780

Strong Backing for STRX by: star_speculator 01/30/01 07:39 am EST Msg: 20102 of 20102 post.messages.yahoo.com ``We believe that Brett Messing and his new management team are revitalizing STAR and have demonstrated our support for them with a cash investment,'' stated Howard Jonas, chairman and chief executive officer of IDT. ``We look forward to sharing as a STAR stockholder in their success.'' Just what the doctor ordered: “IDT has agreed to indemnify PT-1 for certain litigation liabilities or, under certain circumstances, to make an agreed amount of cash available to PT-1 to pay claims of other creditors.” biz.yahoo.com IDTC has the bucks to back their play: “But long distance is less important to IDT's story than its management's great sense of timing. In August, it sold more than $1 billion of stock in its Net2Phone (NTOP:Nasdaq - news) subsidiary to AT&T, giving the company cash on hand of $1.2 billion, or $33 a share, vs. a current price of $20.” thestreet.com Comment: While dilutive, the sale of the subsidiary is just one more step by new management toward their avowed goal of returning to profitability. After yesterday’s wild swings, we should see some more profit taking; but, I expect another higher close. A close above $1.00 cannot be far away. Good luck

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