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To: D.J.Smyth who wrote (2548)	12/18/1998 1:03:00 AM
From: MSB	Respond to of 4903

Semi-OFF TOPIC: You've made mention of ACTC twice in the last few posts. What is it about ACTC's products that bears mentioning with regard to ONSL? I have a small "of no difference" position in ONSL and have been watching the price movement of ACTC for about 2 weeks now. Am hoping that ACTC will fall to the low 2's at which point I'd like to buy in, but I'm not quite sure what it is about ACTC products that make them so desirable. Can you give me some insights. By PM if you would prefer should you choose to do so. Enjoy reading this thread. The pro's and con's all seem worthy of consideration. I for one, however, wouldn't mind at all if this stock doubled every 4 or 5 days as opposed to years. Atb, Mike

To: D.J.Smyth who wrote (2548)	12/18/1998 9:59:00 AM
From: j_b	Respond to of 4903

<<we all know the fundamentals are there>> I think we have a difference in definitions here (it depends on what "is" is <g>). I'm looking for earnings growth, relative p/e ratios, return on equity, etc., as opposed to strictly revenue growth. To put it another way, you can drastically increase revenues by offering $50 bills for $20, but it's a rotten business. That being said, I do think that ONSL will turn the corner during the coming year because of just the issues you raised in your reply. Once that happens, it will be easier to place a "real" valuation on the stock. Without a history of profitability, it's hard to do anything other than speculate on these stocks. Revenue does not equal value unless you have profit. Comparing eBay and ONSL is a good example of that - ONSL has more revenue but less gross margin - which one is a better value (all other things being equal, which of course they are not). There will come a time (IMHO) when the market will realize that the internet frenzy has no rational basis. This whole scenario is very similar to the biotech craze during the 80's, and the unprofitable companies eventually saw their stocks collapse.