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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV
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To: Ron Harvey who wrote (1796)8/20/1998 4:08:00 PM
From: Paul K  Read Replies (1) of 2843
 
Comments from Raging Bull Board on whats going on in the background:

By: VikB
Reply To #246 by letterman_md Thursday, 20 Aug 1998 , 11:44 AM EDT
Post # of 260

Here is some new information I have researched this morning that may help you see the situation more clearly.

I had a lenghty conversation with Jennifer Schreier of WAVO this morning.
Draw your own conclusions with the following information.

1) 6 weeks ago Freidman Billings Ramsey & Co. (FBR) upgraded WAVO to a strong buy.

2) On Tuesday 08/18/98 Mr. Deeds announces a 1 million share stock buy back, but informs Friedman Billings Ramsey & Co. that they will not be buying back the shares through their firm.

3) On Wednesday 08/19/98Mr. Deeds also informs FBR that WAVO will terminate the second offering of WAVO shares that would have been issued through FBR.

4) Freidman Billings Ramsey publicly downgrades WAVO to sell through their anger of lost business.

When i asked Ms. Schreier about the concerns of the company having 19 Million in cash and wanting to repurchase 1 million shares valued at about 8-10 Million dollars therefore depleting almost half of WAVO's cash, she informed me that Mr. Deeds is a very wealthy man and will be using his own cash to buy back these shares along with the CFO and COO of the company.
This shows Mr. Deeds dedication as well as his favourable outlook on the good things comming up in the near future at WAVO.

I hope I have served you all well with the above information.

Best Regards,
Vik

Source:
ragingbull.com
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