I came across an interesting offer on Craigslist today to sell 144 restricted stock for Etelos Inc. (OTCBB: ETLO), representing about 10% of the 23.05 million total shares outstanding. Since the stock is thinly traded with an average volume of less than 2,000 shares per day, the seller is looking to negotiate a block trade on his own and the ask price is generous at a 69% discount of the closing price today. Below is a summary and links for the listing, followed by a summary of the company.
Web Link to Listing:
http://sfbay.craigslist.org/pen/for/933363938.html Reply to email:
mailto:sale-933363938@craigslist.org?subject=Etelos%20144%20Stock%20(10%25%20of%20company)%20-%20$286000%20(burlingame) Date: 2008-11-25, 4:16AM PST
SF bay area craigslist > peninsula > general
This is 2.383 million shares of restricted 144 stock of Etelos, Inc. (OTCBB:ETLO) at a price of $0.12 per share. All restrictions will be lifted and the stock freely tradable after a six (6) month holding period by the new buyer. The buyer will need to complete an Accredited Investor Questionaire and sign a Stock Purchase Agreement. Please write if you have interest in this opportunity to own approximately 10% of a Software as a Service Web 2.0 company.
it's NOT ok to contact this poster with services or other commercial interests
PostingID: 933363938
Etelos is a provider of a Software as a Service [SaaS] ecosystem for the creation, distribution, and use of Web applications, which also offers a marketplace for the deployment and support of these services. The Company offers open standards-based tools for Web developers, businesses, and individual users, such as the Etelos Application Server and the Etelos Development Environment that supports various common programming languages; and the English Application Scripting Engine, a scripting language developed by the Company. The
Etelos Marketplace supports and encourages communities of developers, distributors, and consumers to expand their offerings, collaborate on new ideas and improvements, and provide scalable solutions using Web applications.
Total worldwide revenue for SaaS within the enterprise software markets is projected to surpass $5.1 billion in 2007, a 21% increase from 2006 revenue,
according to Gartner, Inc . The market is poised for strong growth through 2011, when worldwide revenue will surpass $19 billion, based on Gartner’s estimates. Goldman Sachs predicts the market will capture $21.4 billion of a $114 billion total market by the end of 2011. IDC has similar expectations, pegging annual compound growth of roughly 32% for the next four years and a total SaaS market of roughly $15 billion by 2011.
In the past year, SaaS companies such as VMware (VMW) (-75.6%), salesforce.com (CRM) (-52.9%), and NetSuite (N) (-77.1%) are down sharply compared to a decline of 42.7% for the Technology SPDR (XLK).
$25.72 (11/26/08)
