GDNO - Goodnoise, the next KTEL? Message Board

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Technology Stocks : GDNO - Goodnoise, the next KTEL?

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To: mendo who wrote (109)	3/24/1999 8:29:00 AM
From: stocks4u	Read Replies (1) of 158

Goodnoise just raised 30 million dollars. That's the good news. money.go.com. The bad news: If you read the press release it says they issued 10 million shares in return for that cash. According to their SEC filings there were about 14 million shares total in the company.. So doing back of the envelope math, that means that they just sold about 65 percent of the company, at around 3 dollars per share!! Talk about a discount for big buyers. It looks like (but I am not certain) that the venture capitalists now control over half the stock, and in effect OWN goodnoise. I haven't looked at this stock in a while but I see it is trading yesterday at around 22 bucks a share. Looks like anyone who bought shares on the open market is going to suffer some serious dilution this morning! I'm guessing it'll open under 5 dollars a share today. Anyone know why Goodnoise sold such a huge chunk of their company for almost nothing? I thought MP3 was supposed to be the "big thing" these days. Anyone still holding shares out there? I sold the last of mine 3 weeks ago for a nice profit. I hope anyone who wanted to get out, has already done so! <g>

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