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Technology Stocks : E-net - (ETEL) Patented telephony product -- Ignore unavailable to you. Want to Upgrade?

To: Douglas E who wrote (29)	11/16/1997 8:25:00 PM
From: SteveG	Respond to of 545

<I am quite sure that Barron Chase has very little inventory left.> As this point seems to continue to resurface - somewhat confusingly, let's be clear what is meant by "inventory". BC brought ENet public. They sold 1.5MM shares of stock and 1.5MM warrants (of which 10% of the equity was underwritten by J. Alexander Sec) not including the green shoe. They sold these securities to THEIR customers, and they ALSO made a market in the securities. Their customers sold a portion of their shares which was then bought back by BC for inventory in the FIRM's trading account. At this point in time, BC as a firm is carrying very little trading inventory, but their CUSTOMERS still maintain a significant portion of the public float. If and as THESE shares are sold next week, by BC customers whose accounts are held discretionarily by BC brokers, we may see some further pricing pressure. Then again, we may not. Good luck- Steve