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

To: Dave who wrote (7746)	2/15/1999 10:59:00 AM
From: Glenn Petersen	Read Replies (2) \| Respond to of 27722

Dave, while NAVR management never gave us a specific date for the filing of the NetRadio S-1, they did announce on December 8 that it would be completed within 60 days. Once they missed that deadline, they had no choice but to be "straight" with us. Secondly, the earnings restatement is a serious issue as it speaks to the strength of NAVR's accounting department. It never should have happened. It also tells me that they did not consult with their outside auditors on this issue. Like you, I am convinced that they will get the S-1 filed within the next two weeks. I do feel, however, that the delay could cost us all money. First, there are no guarantees that the actual IPO will take place; the window could close at any time. If that happens, we are holding a stock that will be trading in the single digits. Secondly, give NAVR's credibility problems, I would suspect that the "pop" associated with the announcement of the filing is not going to be as high as most of us were hoping for. JMHO.