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.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (72509)	12/30/1999 8:03:00 AM
From: gnuman	Respond to of 132070

And to put the Mkt in perspective, <<Ants Software Raises $5 Mln, Sells Stock Below Market Santa Barbara, California Dec. 29 (Bloomberg) -- Ants Software.com, a 20-year old software developer with no revenue, sold stock valued at $4.8 million over the past two months even as it warned investors it may go out of business. Ants did so by selling about 500,000 shares of restricted stock at an average price of $9.60 each, or about half the market price of the company's stock on the day of each sale. Its shares lost half their value in the past week after Ants repeated the ``substantial doubt' expressed in July by Jaac Olesk, the company's independent auditor, about its ability to stay in business................... The company -- based since January in Hutton's Santa Barbara, California, home -- warned investors on Dec. 13 that there is ``substantial doubt' about its ability to continue as a going concern. Its net worth was $136,130 on Oct. 31. The value of Ants' 12 million shares closed today at $253.3 million, down from $384 million this morning. `It's a casino. It has nothing to do with value,' said Hutton, describing the wide price swings of his stock. ``It's the damnedest thing I've ever seen.'>> quote.bloomberg.com