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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (1291)1/23/1998 10:02:00 AM
From: craig crawford  Read Replies (1) of 18691
 
<< Barb, I did look at FIBR a few days ago from both the long and short point of view. I did not
find the argument compelling from either side and thus did not take a position either way. >>

To each his own and I realize that I don't know everything but all I had to do was scan their most recent 10Q and I knew it was time to break out the bubbly when this stock became reshortable.

Did you read about the multiple private placements done by the company? I haven't counted them all but it could be close to a dozen. Did you see that the whole net worth of the company is much less than all the cash the company took in from their financing activities? Did you look at their cash flow? Did you read the Barron's article? Did you notice that senior management participated in a REG D for themselves and certain "exisitng shareholders" but weren't required to register that with the SEC before hand? Did you know that FIBR generates only $67,000/employee in revenues? I did a comparison with dozens of companies on the FIBR thread and could find none with numbers even close to that pathetic.

What exactly was so compelling about the long's argument? I find nothing.

Short FIBR to 0 (or at least until they are delisted)
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