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North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical Network Solutions is now in the wringer
Best to be aware of what is now coming down on Network Solutions. The following is an excerpt from this article: http://biz.yahoo.com/prnews/990325/ny_asensio_1.html The following is being issued by Asensio & Company, a member of the National Association of Securities Dealers, CRD number 31742: Investors may be buying Network Solutions, Inc.'s (Nasdaq: NSOL - news) stock believing the company possesses some market advantage, recurring income or proprietary technology that has allowed it to create, and will allow it to grow, its Internet domain name registry and registrar business. We found no reasonable basis for these beliefs. NSOL's domain name business has been and remains totally reliant on a 7-year-old U.S. federal government contract, which is expiring and will not be renewed. We believe that NSOL's management has purposely disseminated misleading information, and failed to disclose material negative information, that has led investors to believe that the expiration of this contract will be postponed or that it cannot be entirely and easily terminated. Investors have also been led to believe that even if the contract is terminated, NSOL's business value will continue to grow. These expectations are baseless and false. If their house of cards collapses too quickly it could have some serious operational impacts. And we all do realize that it is a house of cards, don't we? -- Michael Dillon - E-mail: [email protected] Check the website for my Internet World articles - http://www.memra.com
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