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Technology Stocks : INFOSEEK (GO) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Ostroski who wrote (2124)	1/28/1998 11:37:00 PM
From: OtherChap	Read Replies (3) \| Respond to of 9343

Reason for the last second decline explained: Some people found out in the last 30 minutes of trading that Infoseek was going to issue the big press release about issuing the 3 million shares after the close. Even though they had already stated it, it was hidden in their 4th quarter revenue statements. Now it's TWO big stories on the newswires, and anyone who didnt see it in the earnings will DEFINITELY see it now. I would not be surprised to see the stock hit 8 tomorrow in early trading. Also, unlike the earnings report, the press release today states that the new outstanding number of shares will be 30,243,000.. The old number was 26,806,208. This can only mean one thing- they have decided at the last second to issue NEW shares, not sell existing shares. Which means an instant dilution of 10% for everyone who held seek after the close today. This looks like grounds for a class action suit if my suspicions are correct. The earnings statement said EXISTING shares only would be sold, but the press release tonight appears to suggest they are going to print brand new certificates and dilute existing shareholders.