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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: Holger Johannsen who wrote (269)	12/17/1997 10:56:00 PM
From: Robert Marsh	Read Replies (1) \| Respond to of 3424

I'm surprised that I haven't seen any discussion about the OTC stocks that are being delisted from NASDAQ. An article in a recent WSJ indicated there are over 200 ADRs (SAPHY must be one of them) on the bulletin board that will be delisted if they don't turn in financial information to the SEC. If SAP AG does not meet this request the trading of SAPHY will go to the pink sheets. That means no more web trading. In fact, getting into or out of this stock if it goes to the pink sheets will probably be more expensive and difficult. This is not to infer anything about SAP. From what I have heard, German Accounting Practices are even more conservative than U.S. standards. But I don't think SAP will rush their IPO, or go to a great deal of paperwork effort just to satsify a few American ADR holders. Bubba