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Technology Stocks : Osicom(FIBR)
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To: Mama Bear who wrote (7916)8/11/1998 1:45:00 PM
From: Joseph Hoane  Read Replies (2) of 10479
 
Barb,

I now hold 82% of the position I held in January. I have lost a lot
of money. The only thing I regret is not predicting the
extent of the post-split fall. I would have traded out ahead
of it if I had known the extent of the fall. I did not believe it
would go much below $6. I also did not like the high volume of
trading during the fall. I like the low volume of trading at this
level.

I think things are lining up nicely for the company. There are no
accusations of wrong-doing. I respect your opinion and that of
CC in that it keeps me very alert for any actual news of wrong-doing.
However, I have resolved not to act out of fear.

I believe there is information in the ticker. In order to believe
in this company, I have to have a rational explanation for this
sell-off. One explanation is that some people have knowledge of
fraud at the company. Unfortunately, this seems indistinguishable
from what would happen to a legitimate company which had a
reverse split with poor PR, long sales
cycles on its high margin products, and poor earnings during its
transition period into something hot.

My primary difference with you is that I believe that Osicom
management has kept its promises. They are still on track and
are executing the business plan contained in the 1997 annual
report. They do need some better business and margin management,
but they have the products that are needed and they are spending
effort on the right customers, the engineers who need to be sold on
designing products which use the NET+ARM and the customers who
build networks and might use the Gigamux.

Joe Hoane
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