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To: Don Pueblo who wrote (23429)	7/10/1999 9:40:00 AM
From: Arcane Lore	Read Replies (1) \| Respond to of 26163

The belief that MSFT or DELL or some other very successful company was once a penny stock seems a common one among penny stock fans and touts. Actually MSFT IPO'd at $21.00 per share according to Bill Gates' home page: Microsoft Goes Public 3/13/86 Microsoft stock goes public at $21.00 per share, rising to $28.00 per share by the end of the first trading day. Initial public offering raises $61 million. microsoft.com In those instances where the mistake (that MSFT, DELL etc. was once a penny stock) was unintentional, it may have resulted from looking at a long term stock chart or price history of the stock while failing to note that numerous stock splits occurred subsequent to the IPO. For a history of MSFT's stock splits see: microsoft.com Thus unadjusted for subsequent splits, MSFT went public at $21.00. Taking into account subsequent splits, one of today's shares is the equivalent of 1/144 of an original IPO share and would have a cost basis of $21.00/144 = 14.58 cents on the IPO day. Pugs' testimony occurred prior to the last MSFT stock split, so on 2 Feb 99, a single MSFT share would be the equivalent of 1/72 of an original share and would have a cost basis of $21.00/72 = 29.17 cents (not 73 cents). BTW Dell's IPO details are summarized in #reply-8529573

To: Don Pueblo who wrote (23429)	7/10/1999 9:50:00 AM
From: Janice Shell	Respond to of 26163

What is that called, when you do that while under oath? Well, technically it's perjury (or as Pugs himself would have it, "purgery", lolol), though I think it this case it's best considered "stupidity". You know Pugs: he believes what he wants to believe, the hell with the facts.