Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: RickM who wrote (15626)	11/10/1999 10:56:00 AM
From: David	Respond to of 26039

NRID owners pump $5 million into the company, announce name change to ESAF: go2net.newsalert.com This is an interesting announcement, and to me it implies that NRID management expects the company to be making money over the next couple of years, presumably from its Veridicom connection. There may be another shoe dropping here. Certainly, RMS doesn't need to add shares to gain control when it already controls a majority of shares. The preferred stock is convertible into common at $1.39 per share, which is not dilutive, but as preferred does carry a 10% per year dividend, which is steep for a company that is losing money. Of course, if NRID went belly up in two years, even a 10% dividend doesn't help very much. This is a surprise, frankly, and I expect to see the explanation appear shortly in the form of some significant SAF-related deal. Otherwise, it is just good money after bad for RMS, and I don't believe they operate that way.