NSOL - Asensio & Co. must have been hurt bad by the recent run-up... now they're at it again... did not see it until late... I only have 2 May 110 calls and 100 sh, left so I didn't watch this as much as I used to... time to pick up more shares like the last time...
Bear in mind... these are short sellers... always looking for marks...
Asensio & Co.: U.S. Department of Commerce Considers Soliciting Bids for Registry Service
PR Newswire, Thursday, April 08, 1999 at 11:24
NSOL Faces $2 Registry Fee Bid
NEW YORK, April 8 /PRNewswire/ -- The following is being issued by Asensio
& Company, Inc. a member of the National Association of Securities Dealers,
CRD number 31742.
Network Solutions, Inc. (NASDAQ:NSOL) is attempting to obtain
authorization from the U.S. Department of Commerce ("DOC") to charge ICANN's
accredited registrars a $16 fee for each one-year domain name registration for
operating a Shared Registry Service ("SRS"). The DOC has thus far rejected
NSOL's cost arguments and $16 proposal. In fact, the DOC has solicited and
obtained information concerning operating cost and capital requirements for
the maintenance of an Internet domain named Shared Registry Service ("SRS").
This information provides the government with access to alternatives to NSOL's
proposed $16 annual per name fee to operate an SRS. The DOC has received
several proposals, including at least one $2 proposal. The $2 proposal showed
actual direct cost of less then $1 per name per year. These costs are
exclusive of any savings from use of existing underutilized capacity or cost
subsidies from other product lines.
The SRS can be highly automated. It will only service ICANN accredited
registrars. The proposed substitute SRS would allow instant access to name
availability and instant registration if the name is available. The superior
quality and far lower cost of these proposals make NSOL's $16 SRS fee
unquestionably excessive and unacceptable.
A fair SRS price must be established before the test bed can commence.
Therefore, the DOC may be willing to accept a temporary compromise to
facilitate the planned, timely termination of NSOL's contract. This
compromise would merely last until NSOL's contract is terminated. Thereafter,
ICANN may elect to operate the SRS as a cooperative.
NSOL has failed to provide the ICANN accredited registrars with a DOC
approved SRS price. The DOC's actions may indicate that the U.S. government
is considering an earlier than expected termination of NSOL's contract in the
event NSOL is unwilling to deliver the required SRS on time and at a fair
price. Termination of NSOL's contract would be a highly favorable development
for the Internet. NSOL's monolithic domain name registration service has been
referred to as the single, leading cause preventing real-time modification of
domain registration data. NSOL's closed-system also inhibits the growth in
domain name registrations, and the development of more useful searches using
an advanced domain name registry.
NSOL has no legal or technical leverage it can possibly use against the
entire Internet community or U.S. government. Its contract already contains
strict termination clauses and the InterNIC database can be readily
transferred to another maintenance organization. Therefore, there is no
reasonable basis to believe the DOC will accept any compromise price remotely
close to $16. On the contrary, inappropriate use of SAIC's possible political
influence, along with NSOL's baseless, exorbitant demands, may lead to an
earlier than planned termination of its entire domain name contract.
Asensio & Company, Inc. is a New York based institutional investment bank
specializing in corporate valuations and equity research. Asensio & Company
also specializes in investigating fraudulent stock promotions and publishing
research on grossly overvalued companies. A complete documented history of
Asensio's published work with fraudulent securities transactions is available
on the Internet at www.asensio.com. Asensio & Company is actively engaged in
short selling and advises its clients on securities it believes are
overvalued. Asensio & Company has issued a research report on Network
Solutions with a Strong Sell and Short Sell recommendation. The firm's
published reports are available on Asensio & Company's Internet home page
located at www.asensio.com.
SOURCE Asensio & Company, Inc.
-0- 04/08/99
/CONTACT: Manuel Asensio of Asensio & Co., 212-702-8800/
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:NSOL
......................................................................
Asensio & Co.: NSOL Analyst Issues False Report
PR Newswire, Thursday, April 08, 1999 at 12:17
NEW YORK, April 8 /PRNewswire/ -- The following is being issued by
Asensio & Company, Inc. a member of the National Association of Securities
Dealers, CRD number 31742:
A Prudential Securities Incorporated report dated April 7, 1999 states
that Amendment 11 stipulates that both ICANN and each of the registrars must
have separate agreements with Network Solutions, Inc.'s (NASDAQ:NSOL) prior
to the initiation of competitive access. First, "competitive access" is an
euphemism used by NSOL's stock promoters to refer to the scheduled termination
of its exclusive government contract. Second, Amendment 11 specifically
states that ICANN, not NSOL, will exercise DNS regulation responsibility and
that ICANN, not NSOL, will subject registrars to consistent requirements. The
Amendment further states that NSOL, if it operates the provisional Shared
Registration System, shall give all licensed Accredited Registrars equivalent
access. In the event that NSOL fails to provide an SRS, or makes unacceptable
demands on ICANN's accredited registrars, the U.S. government can simply and
readily terminate NSOL's contract, and solicit bids on a competitive basis or
allow ICANN to develop a cooperative registry. In fact, the U.S. Department of
Commerce has already requested and reviewed cost information from database
management companies interested in providing a Shared Registration System.
These companies have offered their services at $2 versus the $16 annual per
name fee NSOL is attempting to obtain.
NSOL is an operator of a simple, small database under a government
contract, which is being terminated. For Prudential to claim that ICANN
accredited registrars will be subject to NSOL regulation is entirely absurd.
The Prudential report further states that NSOL has not recognized ICANN. We
believe this statement is purposely misleading. The U.S. Government has
served NSOL with official notice of ICANN' s designation as the DNS regulatory
organization. NSOL is obligated and required to recognize ICANN. NSOL has no
authority to refuse to recognize ICANN. We believe that NSOL's 12 times
amended, temporarily extended contract has now been sufficiently exposed as an
unnecessary obstacle to the Internet's growth and stability to prevent any
political excuse for delaying its termination. Furthermore, NSOL's poor
service and the spread between its monopoly price and available alternatives
have created sufficient incentives for the Internet community to see that
NSOL's contract is terminated on or before schedule.
Asensio & Company, Inc. is a New York based institutional investment bank
specializing in corporate valuations and equity research. Asensio & Company
also specializes in investigating fraudulent stock promotions and publishing
research on grossly overvalued companies. A complete documented history of
Asensio's published work with fraudulent securities transactions is available
on the Internet at asensio.com. Asensio & Company is actively
engaged in short selling and advises its clients on securities it believes are
overvalued. Asensio & Company has issued a research report on Network
Solutions with a Strong Sell and Short Sell recommendations. These reports
are available on Asensio & Company's Internet home page located at
asensio.com.
SOURCE Asensio & Company Inc.
-0- 04/08/99
/CONTACT: Manuel P. Asensio of Asensio & Company, 212-702-8800/
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:NSOL
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