Osicom(FIBR) Message Board

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Technology Stocks : Osicom(FIBR)

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To: Joseph Hoane who wrote (8036)	8/18/1998 7:22:00 AM
From: craig crawford	Read Replies (1) of 10479

>> Craig and Barb, let me put words in your mouths and then you tell me if I am correct. << Ok >> You thought there was something wrong with Osicom because of a pattern of behavior of the management which seemed bent on distributing stock rather than selling product. << Correct, but I would prefer to use present tense, because I don't believe they have, or will ever change. >> 1. Name dropping of big name partners with no effect on the bottom line or on the top line << Correct. Osicom is less concerned with the bottom line, and more concerned about trying to hype their stock price up by dropping big names, no matter if there are profits to be had or not. They do this for three reasons. A) They need to keep their stock price up so they can issue more stock into the market. Selling stock or convertible equivalents is the ONLY way Osicom can stay in business. B) Osicom needs to keep it's stock price up to ward off massive dilution. The lower the price goes, the more dilution from toxic, death-spiral, convertibles. C) People closely associated with Osicom (including management) need to unload shares of Osicom onto the market to finance their luxurious lifestyles. Obviously a buoyant stock price is paramount to achieving that goal. >> 2. Breaking promises about the amount of stock dilution which would be allowed. << That's what people say. I never listened to CC's until this year. >> What else? Financing with floorless convertibles then implying that the convertible is not floorless. 4. Any reverse-split. I would add: 1. Offshore partnerships. 2. Changing the wife's status so her actions need not be reported to the SEC. 3. Six months of declining stock price. (terrible looking chart.) << All that and more. There are so many things it is tedious to list them all. Most of them have all been discussed at one time or another.

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