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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (2023)	11/24/1998 11:47:00 AM
From: John Arnopp	Read Replies (1) \| Respond to of 4467

Good points. The only benefit served is to reduce the number of outstanding shares, which reduces the number of rights offering shares they will have to sell in each offering. If we assume they were able to buy back about 2mm shares with their combined $40mm, this would mean 400K less rights they could sell, allowing them to retain those shares. At $5 they would be worth $2mm, or about $1 per share purchased. Still not a good investment unless the premium is $3 or less (at 3 offerings per year) - or if the future companies would trade above $5. Leads to a good strategy for investors, though, especially in the absence of offerings: When there is a premium, buy the most beaten down public companies (anyone for more USDC?) and when there is a discount, buy SFE. --John

To: David Lawrence who wrote (2023)	11/24/1998 12:59:00 PM
From: Bryan Steffen	Read Replies (1) \| Respond to of 4467

I have always heard and IMO believe, that the best use of cash when no other interesting or profitable options are available is to buy your shares back. This is the message I would take from the announced additional buybacks: We at SFE can't find any new investments worthy of making, except for that in our own company. Additional portfolio companies that have the potential to add value do not exist or are not worth their price. Since most people following this thread are in it for the rights offerings, This sounds like a sell signal to me! just an opinion from a someone who used to own shares. Bry