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Technology Stocks : PEGA - Pegasystems -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (384)	4/3/1998 9:19:00 AM
From: Clam Clam	Read Replies (1) \| Respond to of 504

Bill, they did say competition is fierce. If you were a customer, why wouldn't you insist on a perpetual license if the competition is offering perpetual licenses? I agree with you that business is doing ok but the fact is that stocks are valued using the common language of accounting and 1997's events as well as a lack of positive cash flow at the company prove PEGA's accounting runs counter to all PEGA's competition. PEGA says they could sell the A/R but this is starting to sound like a finance company rather than a software company. Boston Chicken pulled similar hocus pocus with negative cash flow and it eventually caught up with them. I am not equating the two, just pointing out that I don't think PEGA is so special it deserves its own rules of accounting. I am actually more positive on this stock than I was before yesterday despite the fact I think restatement of all of last quarters results implies there was broad negligence last year (and bordering on fraud).