Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying -- Ignore unavailable to you. Want to Upgrade?

To: d. alexander who wrote (524)	3/21/1999 9:54:00 PM
From: Tom Hua	Read Replies (1) \| Respond to of 1305

March 22, WSJ Interactive Edition. One of the chief beneficiaries of the Internet IPO wave is Winfield Capital Corp., a three-employee investment company based in White Plains, N.Y., that gets financing exclusively from the U.S. Small Business Administration. In addition to breweries and dormitory-management firms, the company has invested in a few Internet stocks, including online retailer Cyberian Outpost Inc. and RoweCom Inc. Winfield Capital has drawn attention by disclosing its stakes in other Internet firms, including Juno Online Services Inc., which filed to go public on March 5. Winfield's stock has rocketed from $9.75 on March 1 to as high as $24.625 on March 15. Individual investors have been furiously speculating in online stock chat rooms about what the company's next holding might be. Mr. LeConey of Security Capital said such speculation is best avoided by individual investors. "If you know first what the company is going to do, you do great," he said. Winfield's stock has risen sharply before in anticipation of an IPO. Last summer it rose to 10 from 2 in anticipation the Cyberian Outpost offering. After the IPO, Winfield's shares fell to under 5 but since have rebounded to close Friday at 18. Further muddying the waters is that one of Winfield's top shareholders has gotten into trouble with securities regulators. Anthony J. Marchiano, who owns a 9.95% stake according to Winfield's latest proxy statement, was president and owner of the investment bank that took Warfield public in 1995. Last March, he was suspended from the brokerage business for six months by the National Association of Securities Dealers and fined $50,000 because he "failed to supervise" employees who were overcharging customers, according to a report from NASD. His firm, A.S. Goldmen & Co., was fined $200,000 and ordered to pay $1 million in restitution to customers because it "manipulated the price of warrants," received "excessive underwriting compensation," and charged customers with "excessive mark-ups." Mr. Marchiano could not be reached and his firm, which has relocated to Naples, Fla., from Iselin, N.J., did not accept calls. Winfield officials declined to comment.