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Technology Stocks : CyberGuard Corp. (CYBG) -- Ignore unavailable to you. Want to Upgrade?

To: jas singh MD who wrote (1247)	2/20/1998 6:13:00 PM
From: jas singh MD	Respond to of 2616

Good afternoon everyone, Here is an article I found while doing some research on another stock(WAVX....yes, it's the same that Marty was talking about) Anyhow, pay attention to the end of the article when it talks about the importance of CAs: techweb.com Sincerely, Jas

To: jas singh MD who wrote (1247)	2/20/1998 6:51:00 PM
From: bojo	Respond to of 2616

Good afternoon Jas Believe me I am no expert by any means. I like stocks that have revenue growth and the ability to achieve high profits. SDTI, Chkpf have done an excellent job not only developing technology but delivering an impressive financial model which is why I believe they trade at rich multiples. I like the security space because I believe it is key to the true success of businesses exploiting the internet. Memcf and Axnt are also in this space, have good stories and are delivering nice improving but profitable financial models. I think cybg probably has good technology but I don't see it in there financial results and question whether they will get there. If you look at the hot companies they all have one thing in common- the prospect for hot revenue growth. They also believe in a dream and spend vast amounts of money to achieve it. Which means heavy investment and losses in the intial years. Verisign has a dream, a strong list of backers, cash and an army of developers pursuing the dream. Cybg does not have big name backers, is investing in the technology but at a minimal rate. How can they compete? Technology advantages don't last long in this business unless you invest. I just don't know how they become a long term player unless they get lucky. I think this is a take out play but I can't figure out who and if it does not happen soon I am afraid it will be back under $5 quickly. I might be wrong. They have said they have the best technology and I think the technology has won awards, but where is the distribution and marketing? It appears that the market has voted for chkpf and rapt. I think Chkpf did $17M in the June quarter; $22M in the September quarter; and $29M in the December quarter. Cybg revenues declined! But you never really know- something could surprise me. That's why I love the stock market...Its kinda like going to Las Vegas every day! Regards