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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bill Zeman who wrote (6524)	4/3/1999 6:35:00 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 78462

Re: IDTC I am thinking of adding to my position and called Investors Relations on Thursday but did not receive call back. I received their investors package about 4 weeks ago and yet the 10Q was for October last year. Investors package loaded with lots of self promotion, which was interesting but made me wonder if company is stronger in marketing than in technology. They did include prospectus from Feb 98 offering but not a prospectus from a secondary. Since stockholders equity doubled from Feb to Oct and shares increased I concluded a secondary must have been offered. Do you know if this is so? But here is what puzzles me. 1) What are the bond covenants that necessitate a buy back. Need bond prospectus for this. Do you know when bond issue placed and nature of covenants. 2) Why cant they use cash on hand instead of bridge financing. 3) Is their merit in argument by some on IDTC board that private financing is more probable than spinoff IPO? P.S. Did you notice that todays savy(?) investors are willing to pay more for the shares of the ziff davis spinoff tracking stock(zdz) than for the equivilent shares in the parent. ZD still owns most of the ZDZ shares (about 85%) yet the market capitalization of zdz consisting of public float and shares held by the parent exceeds the capitalization of the parent? I guess they no longer teach arithmetic in school.