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Technology Stocks : Acrodyne (ACRO) is one of two pure plays in the TV -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shield who wrote (823)	11/16/1997 1:26:00 PM
From: GemSeeker	Respond to of 1319

Excellent post, Paul! All too often the big picture gets lost in the day to day price fluctuations that inevitably accompany microcap stocks. My gut has taken your approach all along, but I confess that it made me feel good to read such a knowledgeable overview of the companys progress. Thanks again.

To: Paul Shield who wrote (823)	11/16/1997 1:30:00 PM
From: Robert Florin	Read Replies (1) \| Respond to of 1319

We know how much integrity the MM's have and that the stock price could have easily been driven down by shorting -- that was a consideration that ruled against a number of otherwise sensible alternatives. The worst it will get shorted under these circumstances is the offering price of the new issue. People short the stock to take advantage of the spread between the price they can buy the stock on the offering, and the higher price of the traded stock. When the traded stock price ='s the offering price of the secondary, the motivation to short evaporates. Pricing the secondary through first an offering to current holders may dilute the effect of this because many are holding the stock to begin with because they see it as a longer term investment and the offering just cost averages down their average purchase price. That was the one avenue I had not heard being considered. Maybe it would have been too expensive and uncertain, or maybe the registration costs etc would have been too great. Maybe I naively believe that the current shareholders would have been interested enough to absorb the offering. Maybe it would have taken too long to arrange when there is a need for immediate cash. I wasn't inside, so I wasn't privy to the complexity of the decision making. In general I do agree with your asseessment of management. All of the exchanges I have had with Mancuso have led me to consider him to be a smart businessman who clearly explains the complexity of the circumstances with which he is confronted, which leads me to think that he is making the best decisions that he can, given the multiplicity of factors at that moment. Thanks for your excellent post.