Thanks David and Sergio for thoughts on SAH. The info on the 22K block sale is interesting. The dip it caused combined with Todd's comfort on the earnings picture probably means we have an easy $2 upside in the short term. Was looking for that assurance before jumping in for more. That's what makes this thread great!
BTW, SOF got some play on TheStreet.com this morning. I got out of the stock at 15 and probably won't go back in because I don't like the cable modem guys but if anyone's interested....
From outta nowhere: SoftNet System (SOF:AMEX), a
little-known Silicon Valley telecommunications and
document-management systems company, has suddenly
(and quietly) doubled in recent months to Thursday's close
of 13 1/8. The company is transforming itself into a provider
of Internet service for small cable operators, much the way
@Home (ATHM:Nasdaq) is the Internet service provider to
large cable operators. Big buyers, according to Securities
and Exchange Commission filings, include Dallas-based
White Rock Capital, once known almost exclusively as
short-sellers. In recent years White Rock, run by brothers
Joe and Tom Barton, has shown up as buyers of Y2K
pioneer Data Dimensions (DDIM:Nasdaq) (before its run-up
and subsequent drop) and Hain Foods (HAIN:Nasdaq).
White Rock won't discuss the SoftNet for the record, but
others who are high on the company say investors are
betting on new management, including CEO Lawrence
Brilliant, co-founder of The Well, a network service
company. His recently hired board includes Howard Bennet,
the former CEO of Prodigy, @Home cofounder Sean
Doherty and Robert Harris, who heads Bear Stearns' West
Coast investment banking operation. @Home's founding
CFO Atam Lalchandani, meanwhile, has signed on as a
consultant.
SoftNet fans are betting on management and directors, who
have moved swiftly to restructure the company. Still to be
resolved: Can they execute, and will they be successful in
their current efforts to raise $150 million in a private
placement?
Phil
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