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Technology Stocks : Osicom(FIBR)
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To: Bryon Bothun who wrote (8647)12/10/1998 12:48:00 AM
From: CMS27  Read Replies (3) of 10479
 
Castle Creek is a part of CSFB are they not? Aren't they a subsidary of CSFB? Castle Creek is in fact CSFB in terms of the original placement of the FIBR shares, isn't this the case?.

Yes I read the lawsuit and there was a transaction between castle creek and Orloff prior to the lawsuit and somehow out of that the lawsuit came about. The point is CSFB was interetsed financing FIBR with convertable shares in order to make money just like anyone else who loans money, they didn't fall in love with Osicom or it's technolgy, they had a lot of collaterall built in to protect themselves, they didn't take this risk because they thought Osicom was a great new company with great technology. I knew that the minute I saw the deal, it was a 8 million dollar loan, with plenty of collateral built in. Those are the simple facts without the cheerleaders spin of CSFB discovering "our little gem" and having done lots DD into how a gigamux works. They did lots of DD on how to cover thier ass if FIBR fell through. Read all the stuff about bankcruptcy in that placement, yes CSFB made sure they got thiers first in that event, thats the kind if DD they did.

At anyrate it needs to be acknowledge that Orloff now has a lot of shares that apparently do not fit at all within thier portfolio and that they likely will be selling. How will the market absorb these shares?

Of course the cheerleeaders will probably now claim that Orloff is so in love with Osicom that they could not turn down this investment, even though they normally only invest in Russian companies. rah rah rah

Scott
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