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PokerTek, AŞ Message Board

  • wyrbender wyrbender Feb 18, 1999 11:09 AM Flag

    We should be hearing from the SEC again

    but this time hopefully the news will be better.
    PTEK filed on the 22nd of Jan. as I recall for the
    WebMD IPO. I believe the SEC has 30 days to respond
    which is just about now. I just hope there is not bad
    news on this front cause then we'd be really screwed!

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    • Where are you getting this 6% figure? They now
      own about 15% and it's my understanding that only
      about 10% of the total stock is offered in the IPO.
      15%, less 10% of 15%, is 13.5%. That is, unless ALL
      the stock in the IPO is PTEK's.

    • Jack-it-off_NOW. Don't get so personal. Calling
      me a dum bass is not kind. You can read all you
      want, but remember, when WebMD goes public. PTEK will
      own about 6% of the outstanding shares after the IPO
      in April. That is, after you subtract the 100K
      shares homeboy owns in his ownright. Now that you're
      done, go to the corner.

    • Ptek will own about 6% of an internet stock
      WebMD, where the rose is off the bloom, for the
      moment.Do not bet that this WebMD is the great salvation to
      PTEK by mid march. The company has to file an
      amendment to the current S-1 for the financials, and the
      CNN relationship. Looks more like Tax Day than Ides
      of March. WebMD will be a big hit and will
      outperform it's model. PTEK's miniscule investment will make
      it, I bet, about 100/150 million
      in it's cash
      register, but will this make it at 20 plus dollar stock?
      What about the fundamentals? Their income from this
      relationship makes PTEK didllycrap, on daily use of it's
      Good luck to all. PTEK may fall.

    • Well, I've bought and sold this stock several
      times to make money. Lately I've thought that I made a
      mistake with this great accounting this company has.
      Nevertheless, I bought this stock for a reason. The reason has
      not happened yet. It's true that WebMD will not make
      money for the first couple of quarters maybe even
      years, but you have to remember that PTEK is going to
      drive this service and continue to get paid regardless.
      So what if WebMD is not making money at first, PTEK
      will. I think it's just a matter of time for internet
      mania to come back to the spectrum. The Marketwatch IPO
      was goo for some but burned many. If Perot Systems
      and some of these that came out earlier in the year,
      there would have been much more demand than they
      currently have. The internets have slightly fizzled and is
      slowly leaking but the next quarter results for EBAY,
      AMZN, YHOO, AOL, etc... will tell the tale if they will
      all survive and at what levels. My prediction is that
      PTEK will consistantly gain 1-2 points per week until
      the announcement of the IPO date then it should rise
      rapidly. Hopefully 20 by mid-late March. If the IPO date
      is announced before the earnings are erleased you
      will see another panic sale, but another fast rebound.
      Buy on the dips and better your positions because you
      might not catch this one low enough if the news comes

    • What is your opinion on the time frame for this
      thing to move to the high teens or low 20's. I've been
      following this board for some time now and my feeling is
      that it will take quite some time to get to these
      levels unless there is some hysteria buying when the ipo
      is announced.

    • Thanks for finding the article, but I think the
      one I read was a combination of articles. It did
      mention that PTEK is still a buy as we all know. I shall
      find and post Monday. Regardless of any news article,
      this stock is moving in a very positive direction. We
      have already rebounded past where we were when the
      news came out and it's only been two trading days.
      Volume is picking up and most of the large blocks are
      buying as the little guys keep selling to save the
      investment. I'm in for the long haul and can't wait to see
      20. The tools are in place, let's see how they hammer

    • PTEK is just a minority owner with zero voting stock. They have zero say in the day-to-day of WebMD.

      FYI for the uninformed

      • 1 Reply to getinrightnow
      • But business decisions are not usually made by
        voting shareholders. PTEK has never asked me my opinion
        on a business decision yet. I think the fact that
        Web Md has the same address as PTEK should tell you
        all you need to know. Having a voting interest and
        having a financial interest are two different things, I
        agree. Given the choice between the two I think I would
        ask "Where's the money?" I also hope the fact that
        CNN is headquartered in Atlanta did not get passed
        you. Atlanta is "good old boy" country. A lot of
        strong alliances are being formed all across the area. I
        have not read one analyst's report recently that does
        not mention the WBMD connection. I am glad that you
        are so informed that you can show us the light.

    • Near term these longer-term moves could put
      incremental pressure on cash flow not currently reflected in
      our model. Premiere exited Q3 with $65 million in
      cash, down from $100 million in June and $200 million
      December 1997. Previously, we assemed cash would decline
      further to $20-30 million as the company reduced debt
      (near $140 million)and upgraded its network. If the
      company accelerates its spending plans these levels could
      be seen earlier in 1999.

      Though we will not
      see results from PTEK until late March, we believe a
      plan to reinvigorate growth is underway with success
      linked entirely to the execution of PTEK's expanded
      management team. Recent steps to centralize multiple sales
      and distribution organizations, investment in leading
      edge communications technologies and a recent 20%
      workforce reduction are encouraging. However, real
      improvement in PTEK shares rests with a stabilization of
      revenues (now decloning in select business segments) and a
      re-acceleration of EBITDA.

    • Without near term pressure to meet EPS
      projections, we would not be surprised to see Premiere
      accelerate spending to upgrade its network and introduce
      advanced web-based communications. Premiere had planned to
      spend $55-65 million on capex to upgrade its network to
      an IP-based platform.

      Without pressure to
      meet short-term objectives, we would not be surprised
      to see these plans accelerated with spending skewed
      to the first half. In addition, we may see more
      strategic investments in web-based solutions and partners
      to capitalize on this network. Two noteworthy
      examples are WebMd and USA net, which we calculated in our
      mid-December report, had added nearly $5 per share in market
      value to PTEK. Premiere has a meaningful investment in
      both entities.

    • The following is the text of the Wolk

      The SEC has required Premiere to restate its
      acquisition of Xpedite as a purchase. It has been asked to
      discontinue its use of pooling of interests accounting for
      its February 27, 1998 acquisition of Expedite. The
      SEC determined that Premiere's post- acquisition
      share repurchase program of 1.1 million shares
      completed September 1998 was not executed within the
      limitations required for pooling treatment. Premiere
      inadvertently purchased approximately 1400 excess shares,
      beyond it's boards authorization, and had hoped the
      subsequent sales of these shares would be sufficient.
      Premiere's excess purchjase represented a vallue of
      $10,000---immaterial to the $450 million paid for Xpedite. We have
      been aware of the SEC's review since October, when
      ther company voluntarily initiated discussions to
      resolve the impact of its repurchase

      Under purchase accounting, Premiere is required to
      amortize intangible assets of $350-375 million,
      eliminating earnings for the next several years. Assuming a
      seven year amortization period, we estimae additional
      expenses of $53 million annually. As a result, reported
      EPS could be closer to $(0.76) in 1999 and $(0.50) in
      1998. There is no impact on cash flow and we are
      maintaining EBITDA forecasts of $110 million in 1999, up from
      $95 million in 1998---$2.39 and $2.06 per share

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