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Technology Stocks : Track Data Corporation TRAC -- Ignore unavailable to you. Want to Upgrade?

To: canuck-l-head who wrote (1331)	4/19/2000 11:44:00 AM
From: Investor Clouseau	Read Replies (1) \| Respond to of 2005

canuck, unlike most of the other people on this thread, I have NEVER been misleading about my position in TRAC. IC (long TRAC, and from much higher levels than it is now)

To: canuck-l-head who wrote (1331)	4/19/2000 12:35:00 PM
From: appro	Read Replies (1) \| Respond to of 2005

New York Times on TRAC: nytimes.com This excerpt from the NY Times article raises questions: >>>>>>>>>>>>>>>>>> Investors who use MyTrack have most of their trades executed by the Track Securities Corporation, which in turn pays Track Data for the orders. Track Securities, which is based in Boca Raton, Fla., has had a number of run-ins with regulators in recent months. Last Thursday, the securities regulator in Connecticut found that the firm had been operating in the state without being registered and had employed unregistered agents. It fined Track Securities $25,000. And last August, New Mexico's securities regulator censured the firm and fined it $10,670 for filing a misleading document and for conducting activity in the state without a license. Florida regulators also fined the firm $2,500 in August for not registering a branch office and failing to establish and maintain adequate supervisory procedures. In all three cases the firm neither admitted nor denied the allegations. A Track Data's spokesman said Track Securities was owned and run by Jack Spiegelman, a director of Track Data. But according to a filing Track Securities made with regulators, Mr. Hertz appears to be a close affiliate of the brokerage firm. In that filing, Mr. Hertz is listed as president and chief executive of Track Data Securities, owning between half and three-quarters. Track Data Securities, according to this filing, is controlled by Track Securities. Even after meeting his $45 million margin call, Mr. Hertz remains a man of means. He will be left with roughly 20 million shares of Track Data, worth about $40 million. And as chairman and co-founder of the Innodata Corporation, which allows customers to create and disseminate information online, he owns a 14.7 percent stake, worth $4.6 million at yesterday's closing price of $6.1875. In addition to his salary of $375,000 at Track Data, Mr. Hertz was paid $75,000 last year for his work at Innodata, based in Hackensack, N.J. The company went public in 1993 in an offering underwritten by A. S. Goldmen, a small brokerage firm that was indicted last July by the Manhattan district attorney on charges that the firm orchestrated a securities fraud that cost investors $100 million in losses. The firm closed most of its operations in 1998. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< Please read the whole article at New York Times site. It is well worth the free registration. They always have superior coverage of business news affecting the markets. My question would be, "Why is TRAC, at $2, up over 400% in just two years from a split-adjusted high of $0.375 when its fundamentals never seem to fluctuate from one quarter to the next for four straight years while INOD and Track Data Securities seem to be rising?" From myTrack's "Market Guide" data on TRAC: >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Track Data Corporation QUARTERLY SUMMARY Page 2 of 10 HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars) REVENUE 1996 1997 1998 1999 1st Qtr MAR 11,768 11,918 11,816 11,656 2nd Qtr JUN 11,627 11,894 11,454 11,662 3rd Qtr SEP 11,779 11,763 11,611 11,518 4th Qtr DEC 11,965 12,056 11,592 11,784 EPS (U.S. Dollars per share) 1st Qtr MAR 0.008 0.003 0.005 0.000 2nd Qtr JUN 0.000 -0.005 0.000 -0.010 3rd Qtr SEP 0.000 0.000 0.000 -0.040 4th Qtr DEC -0.008 0.010 0.000 -0.030 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< Doesn't this seem odd? I realize there were a lot of press releases announcing this and that advance in data delivery, display and Internet trading that plays into the recent e-commerce excitement. Something here is not right. P.S. Sorry if someone else has posted the link above but I have "ignore" clicked for those who have numerous posts trying to hash out specific individual trade execution disagreements. Cutting the excessively repetitive complaints from a few makes the thread easier to read and more useful. No offense to anyone. Good luck to all - especially Barry.