I agree that the best times for INSP appear ahead as you (and Jain) say in 2002, specifically 2H2002.
As far as tax loss season, it ended October 31 for mutual funds. I don't know what it is for non-mutual fund institutions. Paul Allen took care of his own tax loss selling, a we all know, early in September. I think what remains is tax loss selling for individuals; although I think most of INSP's former shareholders bailed by the time INSP's stock price came near $1 dollar a share--at least judging by the quiet nature of the other INSP thread.
I may give IR a call at some point to ask for clarification on the points in the recent press release you mentioned.
I also have some questions about the prior press release which says that Authorize.Net will begin offering Verified by Visa "compliant" fraud protection for its merchants and their customers. I'm curious about the potential new "revenue streams" that will accrue to Authorize.Net, as alluded to in the following quote taken from the press release: "``This common sense approach to preventing fraud is tightly integrated into our gateway and represents a robust new revenue stream for Authorize.Net and our resellers.'' I wonder if Authorize.Net charges some small premium for merchants who want this service. I also wonder what "compliant" means. Is that different from actually offering Visa's own product. (As an aside, I noticed in the conference call that Jain demurred that he wasn't familiar with the Verified by Visa program when an analyst asked him how V-by-V might relate to Authorize.Net's service, such as was it a competitor, etc.? Then six days later INSP came out with the press release about its V-by-V "compliant" product. It could well be that Jain wasn't aware that one of his underlings was working on this development. I wonder though if Jain may have demurred because the deal may not have been finalized yet and felt that, as a result, it was better not to say anything at all than to say something that might have come at a sensitive time for negotiations. Or perhaps later that day, after being provoked by the analyst, Jain and his team learned what Verified by Visa was, decided that that they should incorporate it in Authorize.Net's service, developed a plan, and consumated a deal to offer this V-by-V "compliant" service all in just a few days, lightning fast. Anyway, this digression is just that, a digression, and the issue really doesn't matter.)
Regards--
Puck |
