Audio and Radio on the Internet- NAVR Message Board

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Technology Stocks : Audio and Radio on the Internet- NAVR

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To: LTK007 who wrote (9509)	3/2/1999 9:15:00 AM
From: Rajiv	Read Replies (2) of 27722

NAVR has added 250 million in market cap based on pure-IPO speculation. A S-1 filing does not guarantee an IPO. At a minimum, there are several weeks between the original S-1 and the IPO. It is not uncommon for the actual period to be months. I am predicting that if the S-1 is ever filed, it will gap up higher. But it will close the gap immediately (within 1-2 days - probably the same day). NAVR has always filled gaps rapidly. IMHO, there is a strong possibility that it might even sell off after the S-1 filing gap is filled - 250 million in additional market cap is lot of hype already factored in. There are several misconceptions about the IPO... A S-1 filing does not guarantee that an IPO will take place. It is the first step of a long process. Several firms never reach the last step. This IPO is from Netradio. Netradio will be selling stock and not NAVR. NAVR does not get access to the IPO funds. NAVR (even excluding Netradio) is not cash flow positive. With its balance sheet, it will be forced to go in for another round of financing in 1999. The last time they went in for financing, the existing shareholders were sacrificed. This whole IPO episode and the way the management has handled it - stinks. I cannot help think that there cannot be smoke without a fire. Regards. Rajiv

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