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Technology Stocks : PROGRAMMER'S PARADISE (PROG) -- Ignore unavailable to you. Want to Upgrade?

To: Tony van Werkhooven who wrote (72)	1/10/1999 12:29:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 2383

Tony, at $15/share I am enthusiastic, because it is a combination of a great value play with the possible upside of it being recognized as a crazy internet play. Read my comparison to DRIV and you will understand my enthusiasm. Why taking the risk of waiting until DRIV will have sales of $120 MM per year before they become profitable, when I can buy the same play as DRIV but with positive cash flow and at a discount of 90% to DRIV? By the way, the current valuation of DRIV is actually greater then $950 MM, since I noticed they issued to the public another 1.75 MM shares, thus they now should have outstanding (including options and warrants) 20.75 MM and have thus a capitalization of $1.037 Billions, vs PROG at $.075 Billions, or DRIV is currently valued a full 13.8 times the valuation of PROG. All we need for these valuations to be equalized is for PROG to go to $200/share. Even at my initial target of $60/share, I think I am conservative. Zeev Zeev