Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: taxikid who wrote (12094)	7/28/1998 8:40:00 PM
From: craig crawford	Read Replies (1) of 18691

As I promised the thread: Top 10 Reasons Why Osicom (FIBRD) Did a 1 for 3 Reverse Stock Split 10) Osicom CEO's favorite place to eat is Dairy Queen. Knowing that Osicom is going to file for bankruptcy soon and get a Q placed at the end of their ticker symbol, he figured he would get the D on first so it would be FIBR-DQ. 9) tbonenyc and Eddy Blinker threatened to sell all their shares if FIBRD didn't climb back above 5. Osicom couldn't stand to lose two of their biggest supporters. 8) Osicom hoped the reverse split would put FIBRD at the top of the percentage gainers list that day and attract some momentum buyers. 7) Osicom management plans on selling a bunch of shares and they figure it will look like they are selling 1/3 less now. 6) Osicom management felt sorry for Joe Gladue, the lone Osicom analyst who always comes up with ridiculous earnings estimates. With 1/3 less shares, now it's 3 times easier to meet his 1999 EPS estimate. 5) Osicom management wants to dump thousands of shares and they get charged 2 cents per share on trades above 5,000 shares, so they need to reverse split to save transaction costs. 4) Osicom management saw what was happening to internet stocks lately after they announced stock splits and they wanted in on the action. 3) Osicom's CEO joined an office pool bet on the price of FIBRD and didn't want to lose so he chose to do a 1 for 3 reverse split to improve his odds. 2) Osiom's CEO is in danger of getting margin calls on his stock holdings again and he thinks by reverse splitting the stock the clearing firm won't notice it's below 5 and make FIBR unmarginable 1) Osicom management knows the scam is about to unravel and they want to give their friends one last chance to short FIBRD above 5 while it is still marginable!

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