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Technology Stocks : OneMain.com (ONEM) -- Ignore unavailable to you. Want to Upgrade?

To: PeterR1700 who wrote (489)	7/1/1999 12:15:00 PM
From: lebo	Read Replies (1) \| Respond to of 614

I am waiting for the high teens to get back in. This is a great stock to trade.

To: PeterR1700 who wrote (489)	7/1/1999 4:24:00 PM
From: Glenn Petersen	Read Replies (3) \| Respond to of 614

I am still long ELNK, but longer ONEM. There are at least 5,000 ISPs in the U.S. I attended the April ISPCON in Baltimore and every ISP owner there was either looking for an exit strategy or interested in doing a roll up. The seminars dealing with valuation issues were packed. One ISP had actually set up a booth headlined ISPRollup.com. If you review ONEM's S-1, you will see that they appear to have rolled up some of the fastest growing regional ISPs. One of the challenges for ONEM will be to prove that they can successfully integrate the ISPs that they have acquired. Because they went public a day or two before the end of the March, their first quarter Form 10-Q contains pro forma numbers. Unfortunately, the second quarter results will probably not reflect of all the costs that can be squeezed out of the merged entities. Additionally, the original deal included some contingent compensation for the owners of the ISPs being acquired. The deal appeared to be complicated. However, I did an analysis several weeks ago that would seem to indicate that the additional compensation is going to be relatively minor. You can find this analysis at: siliconinvestor.com siliconinvestor.com Finally, ONEM is buying subscribers for less than $500 each and being accorded a valuation in the $1,000-$1,200 per subscriber range.