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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (809)	5/7/1999 8:35:00 AM
From: quidditch	Read Replies (1) \| Respond to of 15615

Teddy: I don't have a copy of the prospectus or the 10-K--risky business not to, I suppose, but if you are suggesting that because of the Old GCL Exchange the insiders acquired GBLX shares on the IPO date, this would not be dispositive, since the holding period for the old shares would tack on to the holding period for GBLX shares. Not having either document handy, the only point I was making in my post, and adhere to now, is that one can not (i) substitute resale restrictions arising under Rule 144 for those contractual restrictions (intended to protect buyers in the IPO) contained in the lock-up, which your post yesterday seemed to suggest by giving AJ the quoted language, and (ii) assume that insiders have the same holding period as buyers in the IPO. Thanks for your post. Regards. Steven