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

To: Hawkmoon who wrote (9403)	6/21/2000 4:43:00 PM
From: hdl	Respond to of 9798

with the stock in the threes, why not change the title of the thread to corel with no humor. Certainly any mention of $100 a share makes no sense.

To: Hawkmoon who wrote (9403)	6/21/2000 10:51:00 PM
From: micromike	Read Replies (2) \| Respond to of 9798

Considering Corel is laying off the talent and their market shares is falling like a rock. What does Canaccord gain by putting the screws to Cowpland. Were would they get security from a software company. The problem I see is that any investment company wouldn't invest if they figure they can't make money. Considering he has run the company into the ground and it looks like LINUX is smoke and mirrors. How do they expect to recoupe the investment even if they get a super good deal or boot him out. My guess is that Canaccord is waiting for some numbers on this quarter to see if there is still life in this company. If Canaccord bails then my guess is that the numbers are ugly and Corel will be finished or bought out. If they get bought out, Cowpland still stands to make a few bucks from his shares so he still doesn't lose. There is just no justice these days or is there. Maybe the OSC will find him guilty then all us passive Canucks might do something stupid like a class action suit against him. I still remember my broker saying we don't class action in Canada. Then he even recommended Corel when Cowpland was hyping the LINUX. I had to explain to him that I wasn't happy with the way Cowpland operated but he just didn't get it. Now some granny he told to invest her pension in Corel when it was in the teens is losing her shirt. There is definitely something wrong with that picture. I still say the OSC is a useless organization which is suppose to prevent this kind of thing from happening. Only in Canada this kind of crap can happen. JMHO Mike

To: Hawkmoon who wrote (9403)	6/22/2000 10:36:00 AM
From: Daniel Chisholm	Respond to of 9798

olapril: I doubt Canaccord will go through with it after seeing the books. Ron Reece: Anyone here willing to venture a prediction that Canaccord is putting the screws to Cowpland before consumating their financing agreement mike assad: My guess is that Canaccord is waiting for some numbers on this quarter to see if there is still life in this company. If Canaccord bails then my guess is that the numbers are ugly and Corel will be finished or bought out. If they get bought out, Cowpland still stands to make a few bucks from his shares so he still doesn't lose. Picanoc: The dilution is as I recall an additional 25%. I have to wonder if Canaccord is not now putting the screws to Corel management (half a warrant for each share purchase; so 50% more shares may be issued - if the market value is above $C4.56, one can presume they would be, otherwise not. I posted earlier on the huge value that Cannacord received here -- options premium ain't cheap, and they were just given a whole big bunch of it!) Guys, keep in mind that we're talking a toxic equity deal here, not some sort of investment. These are structured to be virtually fail-safe for the "investors" (sometimes at a large cost to the existing shareholders). If you'll pardon a coarse analogy, it's not an engagement, it's not a date, it's perhaps even more detached and less respectful than a one night stand. Think more along the lines of professional services... Cannacord won't bail, if there is anything they can possibly do about it. There's just too much money to be made by going ahead, and very little risk for them. I've followed many toxic deals, and this is one of the more aggressive and dangerous ones I've seen. Pricing was done over a four day period (20 is more typical), and closing (registration of shares -- what they are currently waiting for) is (trying to be) much faster than usual (in the U.S. it usually takes 90 days to six months for the "investors" to flip out). Also, the "sweetener" freebie warrants were very generous, at 50% the number of underlying shares (10% is virtually standard here). - Daniel