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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: DUCT TAPE HAIR CLUB who wrote (6992)	2/9/1999 12:07:00 AM
From: Glenn Petersen	Respond to of 27722

spyball, I don't want to get torn to shreds for these comments, but it is going to be at least 60 days from the filing of the initial S-1 before NetRadio completes its IPO. The SEC has 30 days to respond with comments on the initial filing and they use every one of those 30 days. The company then has to respond to the comments by either making the changes requested by the SEC or by defending their positions. The next step is for the company to file an amended S-1 and wait for additional comments. It is not unusual for a company to have as many as three or four amendments. This is time consuming. I know, because I have been through this process. Check the SEC filings of some recent IPOs and you will be able to verify this timetable. Additionally, the NAVR accounting department does not appear to be filled with rocket scientists. Bear in mind that they recently had to restate the first and second quarter results. They obviously have not been consulting regularly with their outside accountants. As someone noted on an earlier posting, this probably cost them at least 10 days. I am long on NAVR and while I am a bit irritated, I will add to my position tomorrow if the stock dips.