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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Hawaii60 who wrote (7810)	5/18/1999 8:52:00 PM
From: Secret_Agent_Man	Read Replies (2) \| Respond to of 30916

AOL,GE,Softbank in Net2Phone IPO IDT lists industry heavies as principal stockholders By Steve Gelsi, CBS MarketWatch Last Update: 8:29 PM ET May 18, 1999 NewsWatch HACKENSACK, N.J.(CBS.MW) -- America Online, GE Capital and Softbank are among the principal stockholders in a $50 million IPO filed late Tuesday by IDT Corp. for its Net2Phone Internet telephony unit. The listed underwriters are Hambrecht & Quist, BT Alex. Brown and Bear Stearns. IDT (IDTC: news, msgs) will own 66.2 percent of Net2Phone or 27.6 million shares; Softbank will be the second largest stockholder with 10.8 percent or 4.6 million shares. Net2Phone Chairman and President Clifford Sobel will own 8 percent or 3.3 million shares. America Online (AOL: news, msgs) and GE Capital will each own 5.4 percent or 2.3 million shares. The percentages are based on 41.7 million shares including 4.7 million shares of common stock, 27.6 million shares of Class A stock and 9.4 million shares of Class A common stock issueable upon conversion of the Series A preferred stock at the same date. America Online, Softbank , and GE Capital spokespersons did not return phone calls. An IDT official declined to comment. Shares of IDT Corp. fell 15/16 to 27 1/4 on Tuesday. The Net2Phone IPO has been anticipated for months. On April 9, shares of IDT jumped 29.4 percent after CBS.MarketWatch.com reported that Softbank was in talks to invest in Net2Phone. See related story. Softbank, whose shares trade in Tokyo under the symbol "SFTBF," owns about 28 percent of Yahoo (YHOO: news, msgs). Gary Rieschel, executive managing director of Softbank Technology Ventures, is expected to become a director of the Net2Phone before the consummation of the offering, according to the company's filing with the Securities and Exchange Commission. Net2Phone touts long distance phone service that's cheaper than traditional calling. International calls are typically 50- to 70 percent cheaper, the company said. GE Capital is a unit of General Electric, which moved May 10 to form NBC Internet in a three-way merger with Xoom.com (XMCM: news, msgs), NBC unit and CNet's (CNET: news, msgs) Snap.com. See related story. Net2Phone Net2Phone already has contracts with America Online unit Netscape, ZDNet (ZD: news, msgs) Yahoo, Excite [xcit], and InfoSpace.com. Net2Phone served about 250,000 active customers and is handling more than 20 million minutes of use per month as of March 31, the company said in the filing. Revenue for the six months of fiscal 1999 was $13.2 million, up from $12 million in all of fiscal 1998. The company had 174 full-time employees as of May 12. International Data Corp. projects an Internet telephony market of $23.4 billion by 2003. Marketing plans The company said it'll embed its software in future versions of Netscape's Internet browser. A Net2Phone icon will be "prominently positioned" next to AOL's Instant Messenger icon on the Netscape Navigator Tool Bar. "We intend to build upon these relationships and enter into new distribution relationships with other leading companies in order to enhance the distribution of our software worldwide," the company said. It's also launching a new product called PC2PC, which will provide high-quality Internet telephony from one personal computer to another. It'll allow two participants in an online chat room discussion to establish direct voice communication with each other while maintaining anonymity.

To: Hawaii60 who wrote (7810)	5/18/1999 8:54:00 PM
From: blankmind	Respond to of 30916

Nearest competitors include AT&T Jens and Delta Three. they forgot the bb stocks, just kidding. as i have stated in the past, one more way to scare long term investors is to compare the stock to a bb stock and claim that is the competition. longs should remember not to be taken by shorts who will use this type of "trick" to cause doubt about a company.

To: Hawaii60 who wrote (7810)	5/18/1999 8:57:00 PM
From: vinh pham	Read Replies (1) \| Respond to of 30916

blankmind, i left a post on yahoo for you. anyway, i repost here for you to comment on. TIA. << i'm with you. (27M/0.662)x 0.51 = 20.8M shares => 10.4M class A (2x voting share) reserved for IDT. 27M - 10.4M = 16.6M common shares => 9.6M to IPO and Underwriters, leaving 7M to current IDTC shareholders. therefore, it is a 1:5 ratio. however, with 10.4M (25.5%) shares of class A stock IDT still exceeds the 20% accountancy/tax loophole. so, if i reduce it then IDT no longer has the controlling interest of NTOP. i'm stomped! help!!! >>

To: Hawaii60 who wrote (7810)	5/18/1999 9:10:00 PM
From: amoezzi	Read Replies (1) \| Respond to of 30916

Howaii60, You did it and you did it superbly. Please let us know what is the next IDT. Regards, Abdol Ali Moezzi

To: Hawaii60 who wrote (7810)	5/18/1999 11:03:00 PM
From: HiwayTrader	Read Replies (1) \| Respond to of 30916

One little wish... If only IDTC PR people would remember to mention AOL in their release. This way the PR news will get released to the AOL news board as well (i know the marketwatch item is there). Thanks again H60.

To: Hawaii60 who wrote (7810)	5/19/1999 9:33:00 AM
From: vinh pham	Respond to of 30916

regarding the iLocus article about N2P Specials, ATT Jens and Delta Three were mentioned as the the nearest competitors. however, Delta Three reported 13 millions minutes for the entire first quarter in 1999. unfortunately, i have not been able to find the minutes usage reported by ATT Jens. N2P reportedly routed 25 millions minutes over IP for the month of March 1999. i believe the term "nearest competitors" used by iLocus is way too generous for ATT Jens and Delta Three. N2P is the "Road Runner" of VoIP and let's hope that they continue to be so for a long time to come. it is amazing to be rated the world leader in VoIP with only 9% market share of the global VoIP minutes, is it not? and N2P has just barely begun, what with the Netscape N2P button, AOL N2P chat, ZDNet partnership, InfoSpace, and all other recent deals and a lot more coming!!!!