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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: NJR who wrote (829)	8/9/1998 7:32:00 PM
From: Sir Auric Goldfinger	Respond to of 3015

"Longs, do your homework" Them sell quickly before the rest of the "in for the long haul" crowd beats you out the door before the music stops. NJR, anyone can find something to back up their point of view, that is the beauty of the internet. Too bad in your case you've got to go to the yahooligan thread to quote knuckle draggers who can't write at the 1st grade level. The difference in Pluvia is that he is citing SEC filings which SRCM dares not post anything visibly false. Wake up junior, it's time to throw in the towel. Short until zero, and then, still not covering. Why pay taxes?

To: NJR who wrote (829)	8/9/1998 11:13:00 PM
From: Pluvia	Read Replies (2) \| Respond to of 3015

NJR, Just wondered if you were aware of these here facts... The gross proceeds from the Oct. 30 Notes Offering was $120 million. ******FROM NOV 13 '97 8K..... Of the gross proceeds, the Company used or will use (i) approximately $35.6 million to finance the Brite acquisition, (ii) $9.0 million to finance the VNN acquisition, (iii) approximately $22.3 million to retire existing debt, (iv) approximately $22.3 million to fund the interest escrow account, (v) approximately $6.4 million to pay fees and expenses and (vi) approximately $24.4 million for general corporate purposes, including working capital. ****** The company as of March 31, '98 had a little over 19 million of working capital left and enough escrowed cash to pay 3 more bi annual interest payments on the $120MM. That's it. These guys raise 120MM and 6 months later they have 19 left, and nothing really new in the product department!!! That's comedy!! How do you expect SRCM to survive? At their current cash burn rate they will be out of cash in 3Q's Here's another interesting tid bit you just might have missed. Along with the 20MM of preferred stock (Units) the buyers got warrants to purchase 477,000 shares of stock - guess what price they pay? 1 cent. Whip out yer calculator and see how many dollars worth of stock that is at today's prices - and BTW - they can convert any time now. Oh and one more thing. The 1st and 2nd Tranche note holders were given warrants to purchase stock at $6 - those warrants are available for conversion at will right now. Gee when the shat hits the fan, how fast do you think these guys will be selling? Guess how many shares the Tranche note buyers can convert.... 2,665,000.. Heck lemmy whip out my calculator for that one.... <click click click>,,, Comes out to 46.6MM of stock <at today's prices>, that can hit the market any 'ol day now - just from the Tranche notes... Don't fer-get that 46.6MM of stock doesn't include all them there 477,000 warrants convertible to stock at 1 cent... Now, if I were long this stock, knowing the company has no salable product, can't make enough money to pay just the interest on the $120MM notes, and knowing that there was over $54MM of stock at today's prices that could hit the market any 'ol day.... I might not be sleep'in so darn good. But then, that's just silly 'ol me. Sleep tight bud. Your dumb hick pal Steve

To: NJR who wrote (829)	8/10/1998 9:25:00 AM
From: Jean-Philippe Chevalier	Read Replies (3) \| Respond to of 3015

You are a bit misguided, but allow me to show you the light. You have to look at the overall market as a great interactive investment community where natural controls keep the market healthy. This is Fiscal Darwinism at work. Just as in the wild, the sick, fat, weak, injured are culled from the herd by predators. You should look at Mr. Pink as the leader of a pack of fiscal predators performing a valuable service to the economy. Remove them and the market will no longer be lean and efficient. It will become a nuisance and a burden to the free world, like welfare. One day, Mr. Pink will become old and tired. No longer will He long for the hunt. As with nature, a new leader will emerge and continue in the tradition of His Pinkness. Until then, His eminence reigns supreme. I implore you to lose those mamby pamby ideals of yours and run with the hunt! This all reminds me of the day I had to take our old dog Toby out behind the barn and put a bullet between his forlorn eyes. I felt better after that.