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Technology Stocks : IFLY - travel sales on the web pure play -- Ignore unavailable to you. Want to Upgrade?

To: RAVEL who wrote (3530)	1/4/1999 9:44:00 AM
From: Kevin	Respond to of 4761

Perfect - Glad to see they announced it again! (eom)

To: RAVEL who wrote (3530)	1/4/1999 11:36:00 AM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 4761

Ok kiddies, replay time. get out your charts and follow the bouncing ball. Here's the warrant scam as it played out on April 14th, 1998: 1) IFLY press release (stock opens at $10):" 800 TRAVEL CONFIRMS IMMEDIATE EXERCISABILITY OF WARRANTS 4/14/98 13:34 TAMPA, Fla., April 14 /PRNewswire/ -- 800 Travel Systems, Inc. (Nasdaq: IFLY, IFLYW) confirmed today the redeemable common stock purchase warrants it sold in its January 1998 initial public offering which trade under the symbol "IFLYW" are currently exercisable at $6.25 per share. Each redeemable common stock purchase warrant entitles the holder to purchase one share of common stock, and may be exercised until January 14, 2003. In addition, if the closing price of the Company's common stock for 7 consecutive trading days equals or exceeds $10.00 per share, the Company has the right to redeem the redeemable common stock purchase warrants for $.05 per warrant. Until January 12, 1999, any such redemption will require the consent of First London Securities Corporation, one of the lead underwriters in the IPO. 800 Travel System, one of the 100 largest independent travel agencies in the United States, provides low-priced airline tickets for domestic and international travel through its easy to remember numbers, "800-LOW-AIR-FARE" (800-569-2473) and "800-FLY-FOR-LESS" (800-359-4537). SOURCE 800 Travel Systems, Inc. -0- 04/14/98 /CONTACT: Mark Mastrini of 800 Travel, 813-908-0404/ (IFLY IFLYW) 2)Stock closes after the announcement at $8 (you're already 20% down). Stock then trades down to $6 over the next few days before slowly going back up to $8 where it flatlines before the next PR campaign. 3) Within the required SEC filing period of 10 days, lo and behold, massive insider selling. To who? You!: A) 800 TRAVEL:HOROWITZ ROBERT FILES TO SELL 80,000 SHARES 4/24/98 19:51 ROBERT HOROWITZ, NO RELATION, OF 994 KEMPTON ST, NEW BEDFORD, MA HAS FILED TO SELL 80,000 SHARES OF 800 TRAVEL SYSTEMS INC [IFLY] THROUGH PAINEWEBBER INC. CONTACT PHONE (800)-569-2473. B) 800 TRAVEL:HAMILTON ERIC FILES TO SELL 20,000 SHARES 4/21/98 23:44 FORM 144 FILED AT THE SECURITIES AND EXCHANGE COMMISSION ON 04/20/98 ERIC HAMILTON, NO RELATION, OF 15690 GUMTREE LANE, LOS GUTOS, CA 95032, HAS FILED TO SELL 20,000 SHARES OF 800 TRAVEL SYSTEMS INC [IFLY] THROUGH CIBC OPPENHEIMER CORP. C) 800 TRAVEL:MUMMERT LESTER FILES TO SELL 12,500 SHARES 4/21/98 23:44 FORM 144 FILED AT THE SECURITIES AND EXCHANGE COMMISSION ON 04/20/98 LESTER MUMMERT, A SHAREHOLDER, OF 2839 SPRINGWOOD ROAD, RED LION, PA 17356, HAS FILED TO SELL 12,500 SHARES OF 800 TRAVEL SYSTEMS INC [IFLY] THROUGH JANNEY MONTGOMERY SCOTT INC. CONTACT PHONE (214)-220-0693. D) 800 TRAVEL:ABRAMS JEFFREY FILES TO SELL 2,500 SHARES 4/21/98 23:44 FORM 144 FILED AT THE SECURITIES AND EXCHANGE COMMISSION ON 04/20/98 JEFFREY ABRAMS, NO RELATION, OF DIEMS T32C LANE, LEESBURG, IN 46538, HAS FILED TO SELL 2,500 SHARES OF 800 TRAVEL SYSTEMS INC [IFLY] THROUGH EDWARDS (A G) & SONS INC. CONTACT PHONE (813)-908-0404. Think you're not being made a patsy? Think again! The next warrant stripping exercise is happening to you as I write this.