To: Oeconomicus who wrote (17170 ) 9/14/1998 5:59:00 PM From: Glenn D. Rudolph Respond to of 164684
Glenn, speaking of the acquisitions, thanks for the heads up on the 8-K and S-8 filings. Funny that they would disclose financials on Junglee (the 8/27 8-K), but not on PlanetAll. Even at today's price, it's a $60 million deal - surely they aren't suggesting that it is immaterial. Bob, I believe the financials for Planet All was in another filing. I know I read it somewhere and could look it up. I may if I can make time. Their was a a few million dollars in the bank but I believe they lost six million dollars during the first 1/2 year of 1998 operations. I would have to varify those numbers. Book value was 2.6 million as of 6/98. That is all I can recall.Anyway, I bet those Junglee and PlanetAll shareholders are getting antsy waiting for their 2.4 million shares (plus option shares) to be registered. Think they're buying puts? My guess is yes. They all looked so very happy with the deal in the photograph when it was announced.Oh, another interesting thing from the filings (which I think you noted this morning) is the 6.9 or so million option shares that were exerciseable. That was at 12/31 wasn't it? It didn't appear to be split adjusted, so wouldn't it be 13.8 million? I'd better go back and check, but either way, I recall a S-3 filing last fall that registered ALL of the shares in the option plans. The 6.9 million was not split adjusted as of 12/31/98/ However, did Jungalee do a splt or a secondary since 12/31/98? The split of AMZN likely would have no affect since the number of exercisable shares I believe would be those of 12/97. I am not sure on this either. I typically am resonably decent in reading the SEC filings but the only company that makes it difficult is AMZN. They back track and then never make a specific number that is current. Most companys do. The trend has definitly been our friend. I know the float is increasing by the way the stock trades but could not put my finger on the exact float. Glenn