Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Milk who wrote (1860)	12/18/1997 11:55:00 AM
From: Ploni	Respond to of 2544

Believe it or not, FreeEdgar receives electronic copies of the SEC filings the same day they are submitted, and formats them and puts them on the FreeEdgar web site within a short period of time -- whereas the SEC takes about two days to "process" the filings and put them on the government's Edgar site. This is as good an example of government incompetence as I've ever seen. Unfortunately, while the FreeEdgar site is usually reliable, I can't access it right now -- either it's down or my service provider is having trouble with their Internet gateway. Can someone tell me what the 8-K says? Does it have any relevance to the fact that CTYS is now off about 40% on the day? -- not that that's saying much.

To: Milk who wrote (1860)	12/18/1997 12:33:00 PM
From: William Minich	Read Replies (3) \| Respond to of 2544

Well as usual, seems the shareholders are the last to know..obviously someone was aware of the delisting notice given the stocks trading history since the 5th. I truly believe had Cityscapes management stepped in early and kept shareholders better informed perhaps some of this stock's selling panic could have been eliminated. I think the big catalyst was the influx of all these class action suits though which started the big sell off panic, causing more ratings downgrades, amplifying the preferred issues ramifications, pushing the price lower, making delisting a real possibility, making these preferred shareholder's liquidation rights a critical issue....etc, and yes, Zeev - the Preferred Issues have indeed played a big role in all this. Anyway, at this price selling my meager 500 shares is hardly worth the commissions so I'll see it through to the end. Besides, I can always frame the shares and place them over my computer as a reminder what to watch out for in the future - mainly.. 1. Never buy a downward spiraling stock ! (Thought I knew this rule..well, at least I didn't "average down") 2. Cut loose any stock when management remains silent 3. Don't underestimate possible shareholder dillution effects 4. Know the preferred shareholder rights 5. Cut your losses early (well, At least I did cut most of them) 6. and never ever underestimate the greed of lawyers...I guess Chapter 11 makes a lawsuit much less enticing though... This situation kinda reminds me of a seaward vessel with the lifeboat strangely missing and a small message taped to the ship's wheel: Dear Guest, This ship is sinking.....good luck ! Regards, The Captain