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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: William R. Polk who wrote (1201)	3/9/1998 12:17:00 PM
From: still learning	Respond to of 4467

Also, with DTPI this offering is not very dilutive because we're not talking about a huge volume of shares 8.6 mm "class a" (regular common) 12.7 mm total shares (incl class b - 5 votes per shr.) I believe SFE hold much of the class B but would have to check. Either way, from a mkt cap and liquidity standpoint, this is a very closely managed underwriting. One thingthat impresses me about SFE is their focus on enough float, but not too many shares outstanding. Remember, the volume is so thin on SFE and all its partnership companies that they do not risk flooding the market with these shares. On another note, while I'm still not entirely certain about DOCC and its business prospects, I'm very impressed with the way they have kept mgmt from having a feeding frenzy of options -- exec salaries and options are fairly sparse, which means most of the value will accrue to real shareholders (SFE and XRX included) and the IPO buyers. OTOH, they will probably need to set aside future shares to reward the mgmt team.