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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (723)	7/14/1999 11:17:00 PM
From: Larry Brubaker	Respond to of 1438

<<Are there any "ameliorating circumstance" in the WAVC case?>> Not that I can see. It is a BB stock with a $70 million market cap, all of $70,000 last quarter in revenue, large burn rate, poor balance sheet, and a product (wireless internet access) that I don't see as being very unique (i.e., I don't see why some better-capitalized company couldn't provide such a product if there is a market for it). It's been around for 12 years and has earned less than $500,000 of revenue. In fairness, I haven't done much DD on it other than read two S-3's related to financing and browse their website. Maybe something I am missing, but it looks like a total bowser to me. IMO, it would make a great short candidate if the share price was above $5. Again, the only reason I became curious about it is because Wolanchuck is touting it.