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Technology Stocks : Excite [XCIT], an exciting stock to own in 1999!
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To: Tim McCormick who wrote (2046)7/18/1998 9:49:00 PM
From: P.T.Burnem  Read Replies (1) of 3183
 
XCIT calls 56.8 mill of distribution and license fees paid to Netscape nonoperating. What a bunch of crap. This works out to .15 per share per quarter for 8 quarters on a post split basis. Without this hanky panky XCIT lost .25 post split/ .50 pre split.

Excite floats stock, launders the proceeds, and reports them as profits. Nice racket, except that this time they may have gone a bit too far in cooking their books.
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