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Technology Stocks : Net Perceptions, Inc. (NETP) -- Ignore unavailable to you. Want to Upgrade?

To: bernieb2 who wrote (2640)	8/5/2000 8:05:11 AM
From: rupert1	Read Replies (1) \| Respond to of 2908

bernie: The authorization for 50 million new shares has not been activated in any way. In fact there is already about 22 million old authorisations not activated. These authorised shares are not issued. In the case of the SPO, the 2 million new shares were issued and held in trust by Norwest until they were sold under the terms of the SPO. If this latest "Norwest holding" is a mistake only in so far as it is a trust holding not a beneficial holding - then the question is what shares are being held in trust and for whom. Norwest is the trustee for NETP, NETP officers and some employees. These are some possibilities: 1. NETP has issued more than 2.2 million new shares to satisfy employee compensation schemes. The shares are held in trust by Norwest until they have been taken up by the employees and they are incorrectly shown as institutional holdings by Insider Trader. 2. NETP has issued 2.2 million new shares to fund an acquisition and the shares are being held in trust pending completion. 3. Old shares of NETP officers and employees deposited with Norwest are being incorrectly reported as a new holding by Norwest.