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Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: JC Jaros who wrote (8953)	5/3/2000 9:06:00 PM
From: Kashish King	Read Replies (1) \| Respond to of 9798

Well, I would have to say that if he hasn't been trying to pump up the stock and his own stature with hollow rhetoric then he's simply incompetent. Let's get serious here for a minute. Visio went from several million to several billion in market cap and had sales that dwarfed Corel's. Where was Corel in that market space? Building the next big thing: a video conferencing system. An example of something that is an integration of off-the-shelf parts that Corel spins its wheels on for years on end. It went nowhere, period. While Word Pefect continued its long slow decline, Corel was busy failing in the replacement big-thing: Network Computer. One more off-the-shelf thing they spun their wheels for years on: they dumped it. Well, they weren't goin to let that stop them. The next big-thing is Java office software: off they went. Crash and Burn. Getting the picture? Now it's Linux: an OS that has been gaining momentum for 5 years and Corel, as always, is the last one on the bandwagon from the development point of view. They are using an existing Linux and tinkering around with it. Anybody can do that, but only Corel could manage to flood stores with Corel Linux. Where is the revenue? Diddly Squat, more losses and red ink. No, I'm sorry. You are flat wrong about this. He's just keeping the bilge pump working over time and hoping the market forgets all hollow blustering. There are approximately zero analysts who disagree with me on this. Cowpland has been Corel's greatest liability, bar none. Is anybody wasting their time covering this worthless piece of space junk? Oh yeah, somebody has a STRONG SELL out on them. They have managed to tread water and that is about the only positive I see here. Emphatically yours.

To: JC Jaros who wrote (8953)	5/3/2000 9:35:00 PM
From: zax	Respond to of 9798

Corel's Inprise/Borland merger shaky, analysts say Reuters Company News - May 03, 2000 18:30 (In U.S. dollars unless indicated) By Susan Taylor OTTAWA, May 3 (Reuters) - Canadian software maker Corel Corp.'s all-stock acquisition of California's Inprise/Borland Corp. is showing more signs it could be in deep trouble, analysts say. The merger has come under increasing shareholder criticism because its value, which is tied to Corel's stock price on Nasdaq, has sunk 65 percent since the deal was announced in February -- from $1.07 billion to $374 million on Wednesday. The biggest setback came with Inprise/Borland's decision to ask its financial advisor to take a second look at the deal to determine if it is fair, considering Corel's dwindling cash reserves and slumping share price. "If the management there is having second thoughts, then it's a definite element of uncertainty," said Jean W. Orr, analyst at Bluestone Capital Partners. "It sounds like the Inprise/Borland management would at least like to renegotiate the terms." Internet software provider Inprise/Borland expects the review to be ready in about a week's time. The firms will then file final registration, the S-4 document, of the merger with regulators. If Inprise/Borland kills the deal, it faces a $29.5-million walk-away fee, but if shareholders vote down the deal there is no penalty. "I would guess that there is a less than 50 percent probability the deal will go through," said Duncan Stewart, fund manager at Tera Capital Corp. "People are saying 'Oh God, this is nowhere near the company we thought we were getting.' What would help is if (Corel) had real revenues...growth on the Linux side, less erosion of the existing businesses." The second review comes after Corel reported in March a first-quarter net loss of $12.4 million, or 19 cents a share, on sales of $44.1 million. The Ottawa-based software developer also warned it expected to lose money for another two quarters. In a subsequent securities filing, Corel warned it would face a cash shortage within three months if a merger with Inprise/Borland did not proceed, or if it did not get other sources of financing. In March, former Inprise/Borland director Robert Coates, who is chief executive of investment company Management Insights Inc., said he had resigned from the Inprise board to protest the merger because it inadequately valued the company. Coates, who holds a three million shares of Inprise/Borland, or 5 percent, has filed a lawsuit against Corel and Inprise/Borland executives that claims the deal was induced by Corel "through misrepresentations as to its current and expected financial results." If the deal fizzles, Corel won't go bankrupt, analysts said. "They will raise money at some point, they'll get it somewhere, somehow -- it will not be at a very good price, but it'll work," said Stewart. "They're not going to go bankrupt." Characteristically, Corel chief executive Michael Cowpland is confident the deal will go through. "The benefits were based upon a strategic fit all along and the strategic momentum's been very good," he told reporters on Wednesday after a speech at an Ottawa trade show. "Really, we have nothing to worry about." Corel doesn't need Inprise/Borland's money to survive, he added, pointing out the company has run with tight cash levels for the last four years and has sources of financing. Cowpland, who said the two companies are in daily discussion, added he has no doubt Inprise/Borland's board of directors still supports the deal. Corel will market the deal to shareholders once the final S-4 is filed within about 10 days, Cowpland said. A vote will then follow in about six weeks, he added. ($1=$1.49 Canadian)

To: JC Jaros who wrote (8953)	5/3/2000 10:04:00 PM
From: Kashish King	Read Replies (1) \| Respond to of 9798

JC, Inprise investors would have to be insane to vote "yes" on this merger and you're in trouble if you can't access their 200 million in cash and futuristic products. Inprise was a gem that IBM, Sun and of course Oracle would pay double the current offer for, in a heartbeat. Red Hat? The strategic acqusition of the century for that company. Talk about the perfect fit! Sorry, pal, this deal is going to be voted down. There there are these comments in the press: If the deal fizzles, Corel won't go bankrupt, analysts said. "They will raise money at some point, they'll get it somewhere, somehow -- it will not be at a very good price, but it'll work," said Stewart. "They're not going to go bankrupt." Did he say they are not going bankrupt enough times or would that make the nervous comment appear to be panic? Characteristically, Corel chief executive Michael Cowpland is confident the deal will go through. JC, do you know what the characteristically adjective represents in that statement? It's not a compliment, believe me. Remember how Corel would do well with the Java Office Suite, the Network Computer, the Video Conferencing system and now Linux? Get the picture? Do you remember Cowpland dismissed the investigation into his trading activity as routine before being hit with major legal action? Cowpland, there's a difference between postive thinking and sounding like an incredulous fool. "The benefits were based upon a strategic fit all along and the strategic momentum's been very good," he told reporters on Wednesday after a speech at an Ottawa trade show. "Really, we have nothing to worry about." They report this to entertain us. They know how badly we'll laugh at the hollow rhetoric: "strategic fit" and "strategic momentum". I think an AHHHH SHUT UP! is in order here. Are you guys ever going to get sick of his meaning-free rhetoric? One more thing: if the deal doesn't go through you better look out. I am absolutely confident that shares will be issued (can you say dilution) and sold off for well under market value to "lenders". They'll then turn around and dump the shares to recover their money. They will be given an unlimited number of shares if the stock falls and they need to sell more to make up the difference. I am totally confident this will happen. This is the strategic fit that desperation finacing firms have with companies without any options.

To: JC Jaros who wrote (8953)	5/5/2000 11:36:00 AM
From: Kashish King	Read Replies (1) \| Respond to of 9798

The Cowpland Factor Cowpland touted their fizzled Video Conferencing system as the next big thing. Then it was OLAP which was going to put Corel on the map. Next they were going to somehow cash in on Windows Terminal software. Then Windows Emulation would launch the company followed by the Network Computer. First, however, they would set the world on fire with their Java Office Suite. Not content with that long list of total or near total disasters, Inprise then jumped on the Linux bandwagon by creating yet another version of the Debian distribution -- a favorite of the roll-your-own Linux distribution in 24 hours crowd. Each of these feigned efforts has resulted in total failure technologically and economically. Anybody who want's to argue my point of view is free to offer concrete facts supporting their denials. If you've been following a long you have seen Corel jump on these bandwagons well after the train has left the station, if you will permit me to mix the metaphors. Did Inprise not know of this history? For those who think I was exaggerating about this being more comedy than technology: "Corel was almost viewed as a real company because of Linux chatter... zdii.com ********************************************************** Linux This buzzword is dead. Just the mention of the open-source Windows alternative could drive any downtrodden stock into the stratosphere. Once the buzz petered out, shares of Red Hat (Nasdaq: RHAT) and VA Linux (Nasdaq: LNUX) came crashing back to earth even though both firms are making nice strides. Execs at both companies will tell you it's good the hype is gone (sure it is), but it's more noteworthy to look at what those former Linux wannabes are saying these days. Check out V-One (Nasdaq: VONE). In November, shares of V-One rocketed because its SmartGate virtual private network product was compatible with Linux. V-One shares surged around the same time VA Linux set the IPO record. Meanwhile, Corel (Nasdaq: CORL) was almost viewed as a real company because of Linux chatter. "The growth of Linux as an enterprise solution has made clear the need for Linux compatibility at both ends of the VPN and we're pleased that SmartGate is the first to market with such a solution," said CEO David Dawson in a November statement. What did V-One have to say about Linux in its first quarter earnings statement Thursday? Nada. The company didn't mention Linux once. Now the company is clearly on the Pocket PC/Windows CE bandwagon. And Corel? Its "Linux powerhouse" merger with Inprise (Nasdaq: INPR) is on the ropes and now Corel is working the WAP, XML and ASP buzzwords. ********************************************************** Another Gem: biz.yahoo.com