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

To: Sir Auric Goldfinger who wrote (3684)	1/6/1999 10:55:00 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 4761

From today's posteffective amendment to the original SB-2: Shares Eligible for Future Sale The Company has 7,497,096 shares of Common Stock outstanding. Nevertheless, as a result of various lock-up agreements entered into with the holders of the shares outstanding prior to the IPO, only approximately 2,000,000 shares were eligible for trading in the Nasdaq SmallCap Market and on the Boston Stock Exchange prior to December 31, 1998. Of the 5,959,709 shares of Common Stock issued and outstanding prior to the IPO, the holders of approximately 3,000,000 shares agreed not to offer, sell or otherwise dispose of ("Sell") such shares until approximately one year from the IPO; the holders of 350,000 shares agreed not to Sell such shares until July 21, 1999; and the holders of approximately 2,400,000 shares (including the officers and directors of the Company and Vito Balsamo, a former director of the Company) have agreed not to Sell such shares until January 21, 2000. The Company is unable to predict the effect, if any, that sales (or the potential for such sales) under Rule 144 or otherwise of shares previously subject to lock-up agreements may have on the market price of the Common Stock prevailing from time to time. Future sales of substantial amounts of Common Stock in the public market could impair the Company's ability to raise capital through an offering of securities and may adversely affect the market price of the Common Stock. freeedgar.com (click on the label "Body:" in the frame on the left - you may have to scroll down to see it.) The IPO was about a year ago - So 3,000,000 additional shares could potentially be joining the free trading float in the very near future. This increase of approximately 150% does not include any warrants (whose forced exercise looks increasingly distant).

To: Sir Auric Goldfinger who wrote (3684)	1/7/1999 8:54:00 AM
From: simarx	Read Replies (3) \| Respond to of 4761

Auric, do you really know so little about securities law? This filing is their yearly registration statement, nothing more. In fact, if you did your due diligence, you would see that stock came for sale on January 1, 1999 and that is what caused some of the downward pressure. Now that is gone. According to the statement, another 350,000 shares get loosened up on Jan 21, 1999. (A drop in the bucket which should be a short-term event, I should say a non-event.) For the investors doing their due diligence and truly studying the filings as I recommend with any long-term investment, they would see these singular short-term events as an opportunity. IFLY, after everything is said and done still has a relatively small float and an aggressive growth strategy. Very Bullish.