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Strategies & Market Trends : Shorting stocks: High fliers -- Ignore unavailable to you. Want to Upgrade?

To: Dante Sinferno who wrote (462)	3/24/1998 6:53:00 PM
From: chester lee	Read Replies (1) \| Respond to of 709

Robert, The SEC Search club did not uncover GTAX. The charts looks scary (to a shorter). quote.yahoo.com I'll loot at it, time permitting.

To: Dante Sinferno who wrote (462)	3/24/1998 7:49:00 PM
From: Anaxagoras	Read Replies (1) \| Respond to of 709

<<Fare that well >> Hey, what's the big idea? ;-) Chester beat me to it, but I agree the chart looks scary. I don't understand warrant deals as well as I should, so I don't have any immediate comments either. The reason the S-3 search club missed this one is because it really is pretty tightly focused on initially screening those filings alone (and the amendments thereto). Thanks for the heads up! Anaxagoras

To: Dante Sinferno who wrote (462)	3/25/1998 11:43:00 AM
From: Q.	Respond to of 709

I called the CFO of GTAX to ask if the prospectus has been deemed effective yet. He said not yet. The SEC gave them comments to respond to. I thought that ordinarily that meant that they would have to file another amended prospectus, and I mentioned this, but the CFO said the co. only has to respond in a letter to the SEC. Anyway, they are still working on preparing their response to the SEC. He said (speculated?) that the registration should be deemed effective within 30 days. I asked if he intended to issue a news release at that time, to announce the redemption of the and he said "you got it." I asked if the warrants were in the hands of many different people, since they are publically traded (it trades under the symbol GTAX-W), and he said yes. re. timing: It seems like we have at least a week or two before the news of warrant call. (They aren't done writing their response yet, and it will surely take the SEC at least a few days before they do anything about it.) I don't see any point in trying to short before then, and risking more stock price rise.

To: Dante Sinferno who wrote (462)	9/1/1998 6:41:00 AM
From: Q.	Read Replies (2) \| Respond to of 709

It's taken an extra 5 months, but GTAX finally appears ready to redeem its warrants. There are 508 k warrants, representing 9% of shares out and 25 days of volume. So this could be a pretty big impact. Here's the news: GREAT NECK, N.Y.--(BUSINESS WIRE)--Aug. 31, 1998--Gilman + Ciocia Inc. (NASDAQ:GTAX) announced today that it is extending the expiration date of its publicly traded redeemable common stock warrants from Sept. 8, 1998 to Sept. 28, 1998. The terms and conditions of the warrants will otherwise remain the same. A registration statement on Form SB-2 relating to the shares of common stock of Gilman & Ciocia, Inc. issuable upon exercise of the redeemable publicly traded warrants has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement become effective. This news release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The shares of common stock of Gilman & Ciocia Inc. issuable upon exercise of the redeemable publicly traded warrants are being offered by Gilman & Ciocia Inc. to holders of such warrants and represent new financing. Such shares will, however, be offered concurrently with shares of common stock that are currently issuable to holders of options. Upon the effectiveness of the registration statement, a prospectus may be obtained by writing to Gilman & Ciocia Inc., 475 Northern Boulevard, Great Neck, N.Y. 11021, Attn: CFO. Gilman + Ciocia is the first publicly traded company to combine financial planning and tax preparation services. Headquartered in Great Neck, Gilman + Ciocia now has over 100,000 clients with 138 offices in fifteen states. CONTACT: Gilman + Ciocia, Great Neck Tom Povinelli, 516/482-4860 or The Pinnacle Group, Great Neck Mark Cohen, 516/773-2477