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Microcap & Penny Stocks : WCTI (Wordcruncher Internet) Search Engine of the future. -- Ignore unavailable to you. Want to Upgrade?

To: doc who wrote (4119)	2/25/1999 9:22:00 PM
From: john jordan	Read Replies (4) \| Respond to of 5300

Doc. Give me your E-Mail and I'll send you this info.

To: doc who wrote (4119)	2/25/1999 11:50:00 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 5300

We are probably not going to have many of the financial specifics that you are looking for until WCTI starts filing with the SEC. The company has previously committed to the filing of a Form 10-Q by the end of March and has stated that it intends to be fully reporting by the end of June. The company has previously talked about having audited financial statements available in mid-February but they appear to have missed this last deadline. All of these facts have been disclosed on their web site at wordcruncher.com I think that it is safe to assume that WCTI has not yet generated any significant revenues to date and that their assets consist primarily of the cash that was recently raised. I would not expect any financial statement disclosures until they are ready to file. However, I do not think that anyone is buying or shorting this stock based on what the balance sheet may or may not look like. I think that the nature of the financing is a serious legitimate issue. While I have seen various postings quoting WCTI management to the effect that the conversion price has been set at $10, I have yet to see a disclosure that emphatically states that the conversion feature is not subject to adjustment. Given the concern surrounding this issue, it would be in the best interest of the company to issue a press release specifically addressing this issue. However, given Lunt's experience and the fact that the stock was in the mid-20's when they closed on the financing, it is not inconceivable that the preferred issue does actually have a hard floor. Time will tell. You previously stated that the company will not have to disclose the specifics of the financing to either the SEC or to the shareholders. Wrong. Not only will they have to disclose the details, they will probably have to file the actual financing document as an exhibit with the SEC. I do not currently have a position in WCTI but I would be tempted to reenter if the stock drifts lower. If their technology does have some unique characteristics, and I am at the mercy of others on this issue, then I think that they have a reasonable chance of executing their business plan. They do have an experienced management team and they will certainly enhance their credibility is they get something filed with the SEC by the end of March. The stock obviously got ahead of itself (Duhh...) and, rightly or wrongly, there were a large number of people who were disappointed with the beta site. If the preferred stock turns out to be "floorless", however, I will resist temptation. My apologies for the ramble. The point I have been trying to make is that you are asking people for information that is currently not available. Unfortunately, they are trying to respond and this thread has turned into an endless loop. Ultimately, everyone has to make their own risk assessment. The facts will come out and the market will sort out the winners and losers. I fear that I have now added to the loop and have probably bored everyone to death.