WavePhore (WAVO)- VBI fed WaveTop for WebTV Message Board

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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV

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To: Chris Helton who wrote (2697)	4/26/1999 10:12:00 PM
From: BGL	Read Replies (1) of 2843

Agreed: when a company grows so should the number of authorized and outstanding shares. However, WAVO has had a bad reputation for stock dilution - erroding shareholder value. WAVO is chronically unprofitable and has issued shares to cover costs for several years. They have issued convertable preferreds, etc. all to create working capital. I DO believe that such a large potential dillution may be a good sign. If they were doubling the authorized shares in order to screw the shareholders - i.e., granting upper management large option bonuses - I think they would have done it more quietly - in increments. The creation of a potential large block of shares is a good sign. What I object to are the vague explanations as to why it's needed. They should say "news pending" or "here is our plan for WAVO for the next 2 years". They could do either of these without giving away secret information. Instead they have said, "we may use this stock for one of the following 15 reasons" = shareholder ripoff. Thanks for your time...BGL

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