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Technology Stocks : Big Flower Holdings(BGF)-The next CMGI? -- Ignore unavailable to you. Want to Upgrade?

To: .com who wrote (14)	3/21/1999 4:18:00 PM
From: Glenn Petersen	Respond to of 66

"One needs to carefully do their own DD when reading these posts on SI." Amen, brother. Just to amuse ourselves, lets assume that each of the Series C participants purchased a ratable share of the preferred stock. Post conversion, BGF would own 145,687 shares of the World Gate common stock at $16.50 per share. From all indications, WorldGate appears to be a hot issue. Lets say it pops to $50. That give BGF a $4.9 MM gain spread over approximately 19.7 MM shares. $.25 per share, untaxed and restricted. Hardly worth the effort.

To: .com who wrote (14)	3/21/1999 4:55:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 66

BGF actually owns 875,351 shares TFSM and has warrants to purchase an additional 875,352 shares, 437,676 shares at $7.62 and 437,676 shares at $11.42. With TFSM at 45 3/4, the shares and the warrants have a total value of approximately $71.8 MM. The following excerpts are from the 24/7 Media Inc. S-1, located at: sec.gov Page 48: Beneficial Owner Number of Shares Percentage R. Theodore Ammon (6) 1,750,703 13.8 (6) Represents 875,351 shares, Class A warrants to purchase 437,676 shares and Class B warrants to purchase 437,676 shares held by Big Flower Digital Services, Inc., an indirect subsidiary of Big Flower Holdings, Inc. Mr. Ammon is the Chairman of the Board of Directors of the Company and of Big Flower Holdings, Inc. Mr. Ammon does not own any shares of Common Stock of the Company in his individual capacity and expressly disclaims beneficial ownership of the shares held by Big Flower Digital Services, Inc. The address of each of these entities is c/o Big Flower Holdings, Inc., 3 East 54th Street, New York, New York 10022. Page F-20 of the audited financial statements: In conjunction with the Securities Purchase Agreement, the Company issued both Class A Warrants and Class B Warrants to purchase 1,320,904 shares of the Company's common stock, par value $.01 per share, at $7.62 and $11.42 per share, respectively. Such warrants are immediately exerciseable and expire on February 25, 2003. No value has been attributed to the Class A and B warrants based upon an independent valuation of the securities.