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Technology Stocks : Aware, Inc. - Hot or cold IPO? -- Ignore unavailable to you. Want to Upgrade?

To: Perry P. who wrote (8039)	3/9/2000 1:06:00 PM
From: Peace	Respond to of 9236

Aware?s Perspective on Using DSL for Residential Second Line Voice aware.com

To: Perry P. who wrote (8039)	3/9/2000 1:36:00 PM
From: zx	Read Replies (1) \| Respond to of 9236

great info. hope aware does well. thanks

To: Perry P. who wrote (8039)	3/9/2000 3:33:00 PM
From: Jess Beltz	Read Replies (2) \| Respond to of 9236

I went for a drive today, and I think the problem is fairly obvious, and we all know what it is. It relates to some things I wrote about the other day, regarding market risk aversion. The ONE thing the market hates most of all is uncertainty. We ourselves on this thread cannot translate what Aware's contracts mean in terms of future cash flows to the company. Would the analysts have any better idea? Only if they knew information that we don't. If they operate with anything like the information set we have, then the only one's who do know are Aware and Intel, ADI, etc. and they aren't saying. Until they stand up and provide the information for analysts and others to see, most of all so that any kind of numbers come through from which to make meaningful projections about growth rates in revenues (and more importantly, the growth rate in the growth rate - ie is it accelerating or not) then the market is faced with uncertainty about the company. And remember, this was all true before the VRTA announcement. And now... The longer the uncertainty persists, I fear the worse it will be for the stock. The reason is again, simple. The market will have to feel like if they had numbers to report, they would. Why would they not? Competition? Did VRTA care? No. They went forward with hype. So if Aware refuses to say anything, at least one possibility is that there isn't much positive to report. When others, especially competitors issue statements with tangible results with positive implications for growth, hiding behind a veil of secrecy derived from "we can't comment on other firms' products or future releases" does seem lame, and I really can't blame the market for punishing that kind of secrecy (notwithstanding that I hate what it does to the value of my portfolio). What makes markets truly efficient (to the extent that they are) is the free flow of information. I for one wish they would be more forthcoming about it, especially since i like to augment my equity positions with calls, and they suffer in this environment. And part of me feels like management shouldn't worry about the stock price - they should be hard at work on developing future technology. One thing I do think, knowing a little bit about human nature, is that we may very well see Intel and Aware issuing something joint at the upcoming conference aimed (1) at helping Aware a little, and (2) right at a bull's eye on VRTA. Hang tough. jess.