Riscorp, Inc. (RISC) Message Board

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Technology Stocks : Riscorp, Inc. (RISC)

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To: Lee Ring who wrote (9)	2/28/1997 10:34:00 AM
From: jerry simons	of 20

SARASOTA HERALD TRIBUNE-2/28/97 The company may have to pay an extra 1.8mil for a North Carolina business acquired for cash and stock shortly after IPO. A separate deal in Alabama would require issuance of nearly 800,000 shares of new stock next year unless RISC recovers smartly from it's current 2.50 a share. "we are not recommending purchase of RISC" said John Penshorn of Piper Jaffray, one of RISC's original underwriters "we are very disappointed with the results of the past 12 months". "we have a neutrsl on the stock" said Brian Kerns, analyst at RISC's lead underwriter, Smith Barney "we are looking for 10cents (pse 4th qtr)that's all I can tell you" In March 1996 RISC bought CompSource Inc of NC for 11.9 mil in cash and 115,582 RISC shares. As part of the deal Bruce Flachs (owner of acquired company) was given a 13 month redemption period, starting 3/8 during which he could turn in his shares for a GUARANTEED $18.63 a share. Flachs, who is now a RISC executive, declined to comment. Speaking on his behalf, RISC spokeman George Stolpe said "Bruce has not made any decision regarding the redemption of his stock. He said that he really doesn't have any timetable for a decision". SEE NEXT POST FOR REST OF STORY

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