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VCAMPUS CORP Message Board

  • ChipFox1 ChipFox1 Jul 3, 1999 8:58 AM Flag

    Homer, im confused

    i really value your advice with this stock! im a
    little cnfused about the convertible debentures of uolp.
    are you saying since they are variable, they are no
    good? is this a stock that i want to avoid? im looking
    for a company with good long term growth which is a
    start up.

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    • I can't go in to too much detail, but it takes the concept outlined on www.coursefactory.com to a new, improved (i.e. technologically advanced), and more marketable level.

    • What is your understanding of the Coursefactory concept?

    • I am a "friend" of CourseFactory.com who is
      following their concept carefully. Their plans are much
      larger than indicated in the previous post. As I
      understand it, the KnowledgeWorks was sold below what UOL
      paid for it (admittedly, this is hearsay). It is true
      that the VCampus may play a role in CF.com's plans -
      remains to be seen. I believe CF.com is developing it's
      own site/technology for launch later this
      year.

      As a former investor in UOL (I broke even - got
      tired of the stock's stagnation despite great market
      potential), I'd say it's a win-win for both parties. However,
      if CF.com is successful, UOL may be sorry for
      selling. Regardless, seems consistent with UOL's current
      strategy.

    • Thanks for the info. Can you give me the exact URL? I went to netprenuer.org but couldn't find any info on Coursefactory.

    • From what I read on the www.netpreneur.org site,
      coursefactory.com is primarily going to resell CAD-related course
      content in the form of emanuals which customers can
      download and print themselves. Coursefactory will also be
      able to offer its customers access to training via the
      vcampus environment. This was a management buyout by the
      KnowledgeWorks' sales director.

    • I'm confused about UOL's recent sale of the Knowledgeworks division to CourseFactory.com, LLP. I went to coursefactory.com, and it simply takes you to UOL's site. Can anyone shed light on this?

    • the only ones who made out on UOL's earlier misguided purchases were the sellers. UOL didn't buy much "worth" in the first place, and now have nothing of real value to resell.

    • as sales of divisions acquired in past continue is UOLP getting more then it originally paid for these assets or is this more of a distress sale ?

    • No company issues floorless financing unless they
      are desparate for money. Looking at this company's
      balance sheet, it is easy to see why they were forced to
      go to the floorless bandits.

      It makes no
      sense that they would be so desparate for money they
      have to issue floorless financing in the first place,
      but then have enough money to buy out the floorless
      at a 10% premium if they have to.

      Chances are
      the money they received through the asset sale (and
      we don't even know how much was cash, and how much
      was "notes") is needed for other purposes and is not
      available to buy out the floorless.

      And the
      Hambricht and Quist financing is not available until a
      registration is declared effective by the SEC (according to
      the PR announcing this financing), and I can find no
      evidence on Edgar they have even submitted a registration
      for this financing. Once a registration is submitted
      to the SEC, it takes several weeks to be declared
      effective.

      My advice is do not underestimate the damage that is
      caused by floorless financing. If you must own this
      stock, do not risk more than you can afford to lose.

    • Recently the company sold an asset for 1.5
      million, there is also a put to H&Q for almost 2.5
      million. In addition there are negotions going on for the
      sale of other assets and financing from other big
      investors. It is my guess that the worst case is that there
      will be plenty of money to redeem the convertible
      every time it comes due and therefore the floorless
      feature will never come close to being exercised.
      Although I do not like this type of financing at all, this
      is a company that has other alternatives and will
      have the cash to redeem this note. In essence the
      worst case is that the company issued stock at 5.55 per
      share for roughly 450,000 shares. Should the stock sink
      lower the company would pay off the note at a 10%
      premium. The company has indicated to me that the
      preferred holder has been extremely helpful in introducing
      them to many potential clients. They will make far
      more money if the stock is a home run than trying to
      short for a point profit. Doesn't sound like someone
      out to destroy the company. Give this one a little
      time.

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