Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : ATPX: Lunn Industries and Technical Products Group merge. -- Ignore unavailable to you. Want to Upgrade?

To: Eric Hathaway who wrote (1832)	1/15/1999 9:43:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 1923

Eric, Equus shares were distributed to the individual members of Equus. I believe that the intent was for the individuals to make their own decisions on when and if to sell. Those shares could still be an overhang unless there is a public offering providing a vehicle to sell those shares. The individuals were under the same constraints as Equus and were therefore not able to sell their shares in the open market until Nov. But there have been no sales that I know of...or has there been? I am not sure if these shares are subject to the insider rules of reporting upon sale of the shares. The other noteworthy factor is the lack of institutional buying that has occured. I am not seeing anything on that side of the equation either. Maybe there is interest lined up pending a public offering. This is just speculation on my part, because I am not sure that there is going to be a public offering at all. The only institutional buyer that I found was Wafra Investment Group in SEPT. Initially I felt there might be a public offering because of Fuhrman Selz involvement with ATPX. Why would FS invite ATPX to participate in their composite materials growth conference if they didn't have an interest in conducting the offering? But FS would probably begin acting as an MM if they were going to be involved further with ATPX. This hasn't been the case through Dec. nasdaqtrader.com If you take a look at the above stats, you'll see that Allen & Co. was pretty active in Nov. My guess is that former Equus shares were privately placed by Allen with private buyers. If that's the case then it isn't necessary for those sales to be reported and we really don't know what the overhang from Equus people is at all. The upcoming earnings are another stumbling block for ATPX. Anticipated numbers are .44/share vs .46/share for the prior yr. And this will be the first time the stock is compared to itself year to year. The '99 fiscal year is expected to be a huge growth year in earnings. Perhaps the Co. strategy is to kick things in gear after this next earnings report is out of the way. I have more questions than answers right now on ATPX Eric. Sorry for the long post, but I wanted to cover what I think are the critical issues regarding this stock. The problem is where to go for answers. <gggggggg> Here's a portion of the newsrelease regarding the Equs shares: EQUUS COMPLETES DISTRIBUTION OF SHARES OF ATP STOCK TO ITS LIMITED PARTNERS Atlanta, GA, June 30, 1998 - Equus Equity Appreciation Fund L.P. (Equus), which reported beneficial ownership of 2,440,000 shares of the common stock of Advanced Technical Products, Inc. (Nasdaq: ATPX), completed the distribution of all of such shares to its limited partners. Similar restrictions that applied to Equus continue to apply to the resale of such shares to the public. As a result of the distribution, which is more fully described in Amendment No. 1 to Schedule 13 D filed by Equus, certain affiliates of Equus received common stock of ATP. Sergio ps Great day to stay inside today. Roads were trecherous around here.