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: Selfmade$ who wrote (16673)	5/12/1999 7:33:00 PM
From: Patric	Read Replies (1) of 27722

There has never been any suggestion in anything put out by NAVR that they are going to spin off their remaining NETR shares to their shareholders. I am not a securities lawyer, but I am quite certain that if there were any plan to do so that would clearly have to be disclosed up front in the S1, because it would be likely to have a substantial impact on the NETR shares (much larger float after the distribution). Unless I am seriously mistaken, because it has not been disclosed in the S1, a spinoff of NETR shares will not, in fact CANNOT happen in the foreseeable future, period. Moreover, I don't know why MALL included a spinoff as part of the deal in the UBID IPO but whatever the business reason was, it doesn't likely apply to NAVR. It just does not seem to be part of NAVR's plan to give away what appears to be a significant asset. And by the way this is NOT because of some perceived management disregard of the interests of shareholders, short-term or long, but because there is evidently no compelling business reason to do so. #B~}.

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