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

To: ria who wrote (116)	1/10/1999 4:23:00 PM
From: Andrew G.	Read Replies (1) \| Respond to of 2383

Ria & all: I was out & just got back. Hurrah for Prog website! I'm here in Minnesota and got to watch the Vikes play soon, so I just want to wish my best to all on Monday and entreat you all to STAY LONG ON PROG !!!! She's got a long way up[ to go, baby, and the more we hold, the less the float, and the more shorts panic, and the more buy in, and.... THE MORE WE WIN ! Good luck. Talk to ya' tomorrow.

To: ria who wrote (116)	1/10/1999 5:43:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 2383

ria, I believe you nailed it, when their WEB sales will reach 50% of total, then their DSO should go down to about 20. Right now they are selling probably to Government, institutions and corporations, and these are at least on a 30 days payable, the Government is more like 90 days. When you look at their web site, you see that many corporations have set up an authorized account with them, and that must be the source of the high DSO. Not pleasant, but I can live with that, particularly since I think that much of the incremental sales will not require excessive working capital to support it. Zeev