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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: BinkY2K who wrote (16323)	11/4/1999 7:22:00 PM
From: Steve Fancy	Respond to of 30916

Fwiw... Message 11813612 sf

To: BinkY2K who wrote (16323)	11/4/1999 7:24:00 PM
From: OverUnder	Respond to of 30916

Re: "what happened to the 6 month lockup?". This usually doesn't apply to shares offered on a secondary, and is sometimes waived by the underwriter for insiders of "successful" IPO's prior to the end of the lock-up period. I'm not a lawyer, but I don't think there is any legal condition for holding. It usually is just a condition imposed on insiders by the underwriter so that they can be more assured of being able to maintain an orderly market after the IPO. - OU

To: BinkY2K who wrote (16323)	11/4/1999 7:38:00 PM
From: Smear_campaign	Read Replies (3) \| Respond to of 30916

<Of the 6.3 million shares to be sold in the offering, 3.4 million shares are being sold by the Company, and the rest are being sold by selling stockholders, including IDT Corporation (NASDAQ:IDTC), Net2Phone's majority shareholder, who will be selling 2.2 million shares in the offering.> Now someone correct me if I am wrong but an offering is a certain quantity of shares, in our case 2.2 of the 6.3 million, "offered" to the public for sale. It does not say sold to 3rd party, or MSFT , or AOL as I had thought, er....hoped. Offering means to the public, no? From NTOP release it states for $51.50, now with 6.3 million more shares in the float how are they going to get $51.50 when they don't have it now? Something is missing, this can't be so incredibly stupid, something is missing.