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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: AF who wrote (81416)	2/2/2000 10:14:00 AM
From: Probart	Respond to of 120523

VOCL share outstanding 11.5mill. Read this from their last finacials and do the math. <<a company which VocalTec was instrumental in starting and in which it has a significant investment, completed its initial public offering. VocalTec owns 5.567 million shares of ITXC, or 15.6 percent of the outstanding shares. As part of the offering, VocalTec agreed not to dispose of any shares of ITXC for a period ending in March 2000. In addition, the Company's investment in ITXC is subject to Rule 144 under the Securities Act of 1933 which restricts the number of shares of ITXC that the Company may sell during a specified period of time. VocalTec's balance sheet as of December 31, 1999 reflects these developments. In accordance with SFA 115, the non-restricted portion of the ITXC investment which can be sold during 2000 is recorded at fair market value and the difference between cost and fair market value (unrealized gain), based on ITXC's closing price on December 31, 1999, is included as a component of shareholder' equity. A portion of the ITXC holding has been pledged to secure a $25 million line of credit from two banks, and, as of December 31, 1999, VocalTec had $20 million outstanding under the credit agreements.>>