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Technology Stocks : p-com (pcms) -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Levy who wrote (1090)	5/21/1999 12:34:00 PM
From: Bill Lotozo	Respond to of 1461

Bernard, What you say is right. To invest now is risky as well as potentially very rewarding. I would say we agree that nothing is certain with p-com yet except that it won't stay at 5 for long. I have a certain amount of my money in investments like this which I categorize as equally likely to go up %100 or fall %50 before I can get out. (My play money). I made the same type of investment recently in strx at 8 which seems to be moving up nicely now. PCMS, who knows. Did the same with wcii for the past 3 years and now I have a permanent holding paid for with similar bets. Not many wanted Winstar the several times it hit the low teens over the past years. Your a frequent wcii contributor so I expect youv'e done the same. Good investing Bill

To: Bernard Levy who wrote (1090)	5/21/1999 12:57:00 PM
From: Apakhabar	Read Replies (1) \| Respond to of 1461

Bernard, I thought the S3 said that the limit for shares of the common to be issued was about 8,700,000 or about $1.75 share which would be a floor; this is related to the Nasdaq rule about issuing no more than 19.9% of the shares outstanding. Unfortunately, the company wants to do something that could potentially lift this restriction, I think they said. All the readers on this board should thank you for bringing up this subject as it is far more germane than most of the rehashed news reports and cheerleading/bitching. However, you can't escape the fact that since you first posted on this subject in December the stock price has doubled, and in fact in late January had even gone up fourfold. Why do you think that happened? At this point, having done a nice job of reading the S3 and thinking about it, you should call the company. You know enough to ask the right questions. What does the company say about the doomsday scenerio you predict? The SEC filings certainly detail a lot of risks, but that's their legal responsibility to do so. Every money manager that has invested in PCMS has also read it, and the price, instead of tanking, has gone up. Unless you believe that you are right and Wall Street is wrong (hmm...) there is probably more to the story than you know, and calling the company might resolve your questions. If you call, try to speak with somebody higher up than the IR hack. I have no position in PCMS now and I am not inclined to invest in it for the long-term. But I have traded it with success since December, usually going long. I agree with you insofar as the company's prospects are iffy at best; however, the evidence is mixed as to whether the preferred is this great menace you claim it to be.