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Technology Stocks : Citrix Systems (CTXS) -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (5426)	4/7/1998 10:57:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 9068

<<The difference between the proxy numbers and the 10k numbers is that the 10k has a record date of 12/31/97 and the proxy has a record date of 3/23/98, there were additional options issued between the two dates.>> If you actually read the numbers I quoted from both the proxy and the 10-K in my previous replies you will see that there were actually _fewer_ options outstanding as of the proxy record date. This could have been because of cancellations or exercises or (most likely) a combination of the two. I can't believe you persist in saying there are 16 million options outstanding in the face of direct quotes from both the proxy and the 10-K showing that there are in fact around 5 million outstanding. Further, if you want to consider those 5 million options as if they were outstanding shares, you have to also add some $90m in cash to the balance sheet to account for the exercise price. As to why they want to authorize more shares, all I can say is that this is a reflexive action by most companies if they think there is the slightest chance they might want to take over another company with stock. You don't want to have to hassle with getting more shares approved in the middle of merger negotiations. I respect and welcome what you have to say on this thread. I am not by any means an unalloyed bull - I am in fact overall almost completely hedged. I agree with your views on a number of your short suggestions (like ZITL). I don't happen to agree with you on Citrix, although it is somewhat speculative at these levels. Please do me the favor of reading the options OUTSTANDING numbers from both the 10-K and the proxy and accept that you are wrong on the 16 million outstanding options. You are simply confusing authorized and outstanding. Peter