Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: R.NORTH who wrote (7577)	7/17/1998 11:42:00 PM
From: Dennis G.	Read Replies (2) \| Respond to of 10479

R. North, with all due respect, I myself just had a long talk with John Gorman and got their explanation of this announcement. You can get one too just by calling yourself. I told him that I was upset that they didn't have the sense or consideration to put some explanation in the release. I think they realize now that was a mistake as well as another black eye for their image. But the entire board voted for this reverse split because they feel it will "ultimately" enhance shareholder value. I myself still don't really see how but I have come to the conclusion that it isn't as bad as the perception. They were in fact advised to do this by the underwriters of the EN IPO, which is still going to proceed. The underwriters apparently felt it would enhance the chances of a successful offering. The company also feels there are other positives. But short term they realized it would be viewed negatively, although I think they significantly misjudged the degree of this negativity. I don't know myself how people in their position could not have known how badly it would be perceived. I asked him bluntly if they were close to bankruptcy and he said absolutely not. They are still doing business. I asked him if they would still be around in two years and he said yes. Take that for whatever it's worth to you. But my main beef with him was that what the only thing that really mattered in the end were sales announcements and he thoroughly agreed. He said they were "busting their butts" working to make these sales. But the Telco product evaluation cycle is an extremely slow and deliberate process which they can't seem to speed up. He admitted they thought they would be further along this path 6 months ago, but he said they were making progress. I asked him bluntly if he thought they would at least have some positive results to announce this year and he said yes. But you don't have to believe me about all this. Call him yourself. And if you don't believe him, then maybe it's time to sell. I'm going to continue to hold. And as for all those "idiot" shareholders who voted to keep Par, I think it was mainly a case where very few shareholders bothered to vote. Par simply got credit for all those share which weren't voted. I wish he would vanish too, but it ain't going to happen. Dennis