To: JW@KSC who wrote (12158 ) 5/1/1999 12:43:00 PM From: John Bissell Read Replies (1) | Respond to of 15313
Jim: Thanks for your post. I don't take it as a flame, but as advice that is well meaning. I am the first to admit that I have been all over the map on this investment. I got in based on some initial DD along with input from other investors who seem to know what they are talking about. The reason for my concerned posts was due to the fact that I was starting to see some hard evidence that raised some questions about the firm. i.e. Why is management filing so many 144's, with plans to sell the stock for under $1? I mean, if you really believed that the company was going ballistic, why do that? Why does the new issue include a piggy back of management shares? Bill Gates could have sold stock many times, but didn't because of his belief in the future value of Microsoft. Yea, you could argue that the amount of stock is so small that it doesn't matter. But what it tells me is that management is cashing out along the way. Also, there have been some missed committments. Sure that can happen, but they need to be looked at closely. The missing signature on the SB-2A, quiet frankly, was lame. There may have been a very good reason for not filing on time, but I know that if I was filing such an important document I would have gone over the docs with a fine tooth comb to make sure they were in order. Don't these guys have lawyers? There are small things too that one needs to watch. Web sites that aren't kept up and are slow. Yea, it's an INTRA Net site, but that is a bogus argument. I won't go on, but taken in their entirety they become significant Listen, I am still long, but not blindly long. This IS a hot market space, MS seems to be a good manager based on what I can find out, and the upside relative to the downside still seems excellent. All I am doing is raising questions that as an investor I wanted to discuss. My view may change from bullish to bearish, depending on what evidence is out there, but hey, it's a dynamic market. I don't expect anyone to change their investment decisions based on my concerns, but it should generate some interesting dialog (you post had some really good insights).