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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2204)	8/30/1998 2:53:00 AM
From: Dante Sinferno	Read Replies (1) \| Respond to of 4634

You're welcome , maybe you could use the extra time to give me an opinion on PRBZ....<g> Stock has gone from 7ish to 40 in the past year , backed down to 32 as of Friday. Short interest has gone from 14K to 582K in last 6 months A payroll outsourcing company , they are up against some real heavyweights : Company Market Cap EPS AUD --- $21 B --- 1.98 CEN --- $4 B --- 5.69 PAYX --- $6.7 B --- .62 PRBZ --- $540M --- (.41) They did a 3 for 2 stock split on 8/4/98 and filed an S-1 on 8/5/98 for 2.475M shares. That was immediately followed by Five form 144 filings. I don't know who those are but I did notice General Atlantic Partners is a beneficial owner in PRBZ holding some 2M shares here. GAP caught my eye as I recall they sold LHSG near the top. From PRBZ form 424A filed on 8/12/98 : --------------------------------------------------------------------------------- SHARES ELIGIBLE FOR FUTURE SALE Sales of substantial numbers of shares of Common Stock in the public market following this Offering could adversely affect the market price of the Common Stock. Upon completion of this Offering, the Company will have outstanding an aggregate of 19,589,855 shares of Common Stock, based upon the number of shares outstanding as of June 30, 1998. Of these shares, all of the shares sold in this Offering and the 4,312,500 shares sold in the Company's initial public offering will be freely tradeable without restriction or further registration under the Securities Act. There are currently outstanding 2,539,100 shares of Common Stock issued pursuant to exercise of options granted under equity incentive plans of the Company, all of which shares are freely tradeable pursuant to Rule 701 of the Securities Act or have been registered for resale under the Securities Act. The remaining 10,263,255 shares of Common Stock were issued and sold by the Company in private transactions exempt from registration requirements of the Securities Act and will be available for immediate sale in the public market in accordance with Rule 144, in some cases subject to the volume and other resale limitations of Rule 144, other than the one-year holding period. Approximately 7,127,890 of such shares are subject to lock-up agreements under which the holders of such shares have agreed with William Blair & Company, L.L.C. not to sell or otherwise dispose of any of such shares for a period of 90 days following the date of this Prospectus, subject to certain limited exceptions. See "Shares Eligible for Future Sale." As of June 30, 1998, options to purchase 1,800,416 shares of Common Stock were outstanding, of which options to purchase 414,884 shares were then exercisable. As of June 30, 1998, options to purchase 1,277,510 shares of Common Stock were available for grant pursuant to the Company's 1996 Stock Option Plan and 579,886 shares of Common Stock were available for issuance pursuant to the Company's 1997 Employee Stock Purchase Plan. In addition, as of June 30, 1998, warrants to purchase 229,500 shares of Common Stock were outstanding, all of the underlying shares of which will be eligible for sale in the public market upon exercise of the warrants. Pursuant to agreements between the Company and certain stockholders and warrantholders (or their permitted transferees), approximately 9,571,976 shares of Common Stock and 124,500 shares issuable upon exercise of warrants are entitled to certain registration rights under the Securities Act. ---------------------------------------------------------------------------------------- Seems like an awful lot of stock could hit the market soon Can anyone tell me if General Atlantic Partners is one of the 144 filers ? Rob

To: Bill Wexler who wrote (2204)	8/30/1998 3:55:00 PM
From: Michael Berkel	Read Replies (2) \| Respond to of 4634

Bill, Coke is here for you to short. Or are you mainly interested in "little" scams like ZONA and do you tend to shy away from the (former) WallStreet darlings? Well, I don't see how people can pay 50 times earnings for a company that is currently not growing and might be badly affected by the Russia & Asia lack of contribution to future earnings. Coke is trading in the seventies. My next target is 50 and even that is a little too steep IMHO. Happy trading! Michael