"The market's insatiable appetite for Linux based companies is
expected to wane next month as LinuxOne (proposed nasdaq ticker:
LNIX ), a Linux-based company with no reported revenue and a very
short operating history, goes public in February."
"LinuxOne plans to raise roughly $24 million in proceeds by
offering 3 million shares in a range of $6 to $8. Capital West
Securities, a lesser-known investment firm that has underwritten
some ten deals this year, is in charge of the deal...."
"Skeptics, however, claim that the company has completely ripped
off Red Hat...by producing a product that simply substitutes
"LinuxOne" in the place where "Red Hat" usually appears.
"That's absurd," says Roy Holmes, vice president of sales at
LinuxOne. "These Linux-based companies are all a version of
each other anyway: All of them are built off of the same
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