AG,
I've been watching ENVY for a couple of years. First thought it looked good because of Fund involvement (I think....long time ago). I went long on it a few times and made a few points. I have been looking at EVNY and WIRE for possible shorts. Kinda missed the boat on WIRE, although there may be a few points left...
ENVY, on the otherhand, is looking like it may move a quite a bit lower. No funds selling but recent company purchases look pretty expensive and don't look like they have produced much in rev......Doesn't look like they are doing too well and I'm wondering how the following will effect the price....The S-3 says...
Common Stock offered by the Selling Shareholders............ 1,750,000 shares
Common Stock outstanding after the offering(1).............. 21,196,354 shares
Use of proceeds............................................. All proceeds from the offering
will go to the Selling
Shareholders.
The Nasdaq Stock Market symbol.............................. ENVY
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(1) Excludes (i) 3,757,426 shares of Common Stock issuable upon the exercise of
options granted pursuant to the Company's existing stock option plans, of
which 1,185,926 shares were exercisable at a weighted average exercise price
per share of $6.55, as of July 31, 1998 and (ii) 2,800,000 shares of Common
Stock issuable upon conversion of the Series B Preferred Stock.
Dr. S |
