To: brad greene who wrote (4329 ) 2/4/1999 4:56:00 PM From: C. McD Respond to of 5847
Brad, I'll tell you what I think, if you'll tell me what you think. I assume you are in contact with Sitra at least as often as I am. Based on today's conversation, and BANY's strong trading action in a horrible market, I'm willing to say that it is entirely possible. O.K., I'll say yeah, my best guess is that it HAS been filed, and it could pop up any day now. I've been bearish because everytime I checked, it was always another week away, seemed like it would take forever. Now, after several phone calls, I think it could actually be out there. I'm sure alot of other folks have had conversations with Sitra similar to mine, and haven't shared their insights. After all, its all just speculation until it shows up. Just to cover myself, I picked up some BANY late today (so much for the contrarian). I would still like to get more at a lower price, but if the filing comes out tomorrow and I miss ALL the action, I'd be a little miffed. If the filing still doesn't come out for a long while longer, I'll average down all the way to $0.40. Scott did mention that the filing states that the preferred symbol is ANYI (AYIC was just made up by some brokers for accounting purposes). By now the filing SHOULD be done, they've had more than enough time to put it together IMO. And maybe it'll be real good. The market was sure cold today, I'd still watch the IPO mood carefully. If new issues fall out of favor, none of this matters. One other new issue BB I am following now is MLRE (Millionaire). I'm not planning to invest, but since it was a hot BB internet issue out of the gates, I'm intrigued. MLRE used a BB shell (like AONE), so they didn't have to go through all the stuff ANYI is doing. Insiders got shares at $0.50, it started trading at $3.50, went all the way to ~$27, and has now settled in at more than ~$10. Does anyone know if ANY new BB stocks that didn't use shells have begun trading this year? Might be interesting if ANYI was the first. could get some extra press (and scrutiny). BTW, I am still planning to sell my ANYI shares to Mike. Even though I am having second guesses, a deal is a deal, and I still figure I could use the money to buy BANY below its fair market value if ANYI is hot. Either way, I could take ANYI from $5 to $10, or get BANY at $0.69 (my estimate for a high BANY price w/ ANYI at $5) and sell at $1.13 (add $0.44 for each $5 move of ANYI). I would rather get the cash now, and have fun with it. Besides, its kinda fun to gain the experience of selling pre-IPO shares. FYI, I asked Sitra about selling ANYI shares before trading begins, and he says its totally legal, and easy to do. Mike seems to have a pretty good system worked out, so if $5 sounds good to you, send Mike a PM.