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Technology Stocks : FirstWave Technologies (FSTW)
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To: McNabb Brothers who wrote (2687)4/24/2001 2:05:40 PM
From: Oeconomicus  Read Replies (1) of 9677
 
Hank, as I'm sure several people at FSTW are regular readers of this thread, I think they know we are unhappy. The bigger issue is what can and should be done to fix this company. If the problem is that customers are too nervous about buying from a teetering company, then raising a substantial amount of money is the only thing (other than an asset sale) that will fix it. That may only be possible at very, very dilutive valuations (if at all). Personally, I'd say "damn the dilution, we're talking survival", but I don't think all of us together own enough stock to have much real say on the issue. I would be very interested in seeing just what they'd do with it if they could raise a few million. I'd even be willing to help figure it out. What they've done with the last few (if memory serves, they had $3 million in the bank when I bought this... this... p... paper) hasn't exactly impressed anyone.

As for proxies - if only as a statement - let's talk by PM or e-mail when we get them.

Regards,
Bob

PS: If the problem is not customer confidence in the company's financial viability or even simply having the cash to go out and sell - i.e. if it is the product - then we should take the 60 cents. Any objective viewpoints on that (the product question) would be appreciated.
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