Safeguard Scientifics SFE Message Board

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Technology Stocks : Safeguard Scientifics SFE

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To: Micawber who wrote (2811)	5/12/1999 3:52:00 PM
From: still learning	Read Replies (2) of 4467

I have taken a look at LPGL and established a position, though smaller than my SFE holdings. It has fluctuated between 25 and 35 in the 2 mos I've owned it, frankly disappointing, but given the environment not htat surprising. I thought about bailing for a small profit/small loss 3-4 times, but I think they have some good holdings and are just getting started. The small # shares (17.1 mm ADRs) which means sig. leverage to the upside. They hold about 15-20 good inet companies, only 2 of which are public NETP and NETG. Here is what I know of their holdings: LPGLY 17.1 million shrs outstanding 140k shares of cardiac pathways corp 246k shares of century business services 186k shares of imagyn medical technologies 182k shares of the learning company (this baffles) 2.56m shares of avirnex communications warrants 1.6 m shares of accesslan communications 2.34m shares of avirnex communications 1.75 m shares of convergent technologies 1.4 m shares of et communications 120k shares of i-cube, inc 2.6m shares of netp 2.53m shares of packeteer, inc 2.5m shares of ramp networks 2.2m shares of redcreek communications 1.05m shares of shomiti communications 2m shares of silicon spice 333k shares of vina technologies 2.3m shares of xlnt designs 1.377 m shares of NETG They have CNSW lined up for a filing and RAMP also. LPGL also has a rather large insurance/corporate finance business in the background that seres as a base of earnings. Bad news is: closely held, some questions about mgmt commitment to shareholder value vs. maximization of mgmt shares. Some sketchy stuff about their CEO being sued in the past (worth looking into, but not worth my rehashing in detail). Lots of CMGI wannabees. These guys are in as good a position as any. Better portfolio and pedigree than WCAP (another wannabe).

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