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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: Bryon Bothun who wrote (7047)	5/30/1998 7:43:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 10479

Something I've noticed in my observations of companies that are umm, less than concerned with shareholder value shall we say, is that the executives are somehow able to divest themselves of their huge insider holdings without being bothered by the SEC filing requirements. I've kicked myself several times for letting Par slide on that "margin call", as John Rendall of Solv Ex used that tactic in May of 97 to relieve himself of some shares of his quickly failing company. Did anyone notice there is no mention of Barry Witz or the lovely Ms. Chadha on the list? Footnote B also says that the shares include those of R II partners and RT Investments, so I would assume Witz and Ms. Chadha would be listed if they were over 5%, even if held through Brite Lite Industries or RT Investments, or some other holding company. It looks like I may finally be able to put this company in my historical files, it just doesn't seem to me that insiders would divest themselves of such a large number of shares at this time if they had any significant hope that they were going to finally turn the corner. It is also curious that the divestment occurred in such a surreptitious manner. I would short this company if it somehow climbs back over 5. Barb

To: Bryon Bothun who wrote (7047)	5/30/1998 8:40:00 PM
From: Robert Gordon	Read Replies (1) \| Respond to of 10479

None of the other directors or employees show selling. In fact their position is up in most cases. So what about PAR? Well there is a possibility that Rand and RII and R-T shares have been liquidated. Par may not have to file this with the SEC. The question is why did he liquidate the shares owned by these 3 corporations? 1) He decided to sell at the "high price" of 5-6 dollars a couple months ago because he thinks the stock will plummet asd he will never get his money back. But then why didn't any of the other directors sell? And why has there been insider buying? hmmm 2) Maybe all this has got to do with the NMS listing. Why are we having another director vote only 7 months from the last one? hmmm perhaps nasdaq wants the new shares to vote on the current directors? Those million shares owned by the 3 corporations in general seemed a little questionable. Reason I think that the reduction in Par's total shares is due to the liquidation of RT and RII. 11/97 Par's number of shares 2,426,551 minus RII position 1,107,501 RT position 93,600 ----------------------------------------------- total 1,225,450 shares current quarter 1,180,119 But note in the current release it says Par's total includes shares and options held in the name of R II Partners, Inc., RT Investments, Inc., and Rand Research Corporation. The question is how many shares are left in these 3 corps it doesn't say.