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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: CatLady who wrote (6502)	4/8/1998 12:32:00 AM
From: Roger A. Babb	Read Replies (4) \| Respond to of 18691

CatLady, I have wasted my evening in a futile debate with an "educated" long on the CTXS thread who refuses to accept the concept that outstanding and obligated options should be considered when making per share calculations. It is amazing how such simple concepts are over the head of most investors. According to the recent CTXS proxy, it has about 42 million shares outstanding plus an obligation for 16 million options. Management gets options equal to 5% of outstanding stock each January 1st. And the proxy vote will increase authorized shares from the current 60 million to 150 million granting management the right to issue the additional 90 million shares for any purpose without further shareholder approval. This proxy came out yesterday and I promptly doubled up my short position.