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Technology Stocks : Micromem Technologies ***MAG-RAM*** ( MMTI)
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To: Edderd who wrote (18)6/6/1999 5:52:00 PM
From: wily   of 95
 
I'm just curious as to the financial maneuverings so far regarding this technology. I haven't seen the prospectus.

Estancia bought all rights to the technology from Lienau for an unknown (to me) amount.

Then Estancia sold about half the rights to Pageant for what -- 32MM shares of the company's stock? Can anyone tell me what the story is here?

When was the public offering, who underwrote it, how many shares were offered and for how much?

All these facts can lend clues as to what's going on but I see them nowhere discussed. Talking to management or Lienau or whoever is not going to yield much because you don't know what their interests and obligations are. Non-disclosure could very well have been part of the contract when the technology was sold.

At $150-250MM market cap someone has made a lot of money already and I'd like to know who. The investment in the technology since Lienau sold it has been miniscule compared to its market cap now. Where is the added value? Was Lienau that stupid to let go for 10-20% or did he just not care? Or are the dupes the people paying the current price for the stock?

Why was the technology sold to Estancia rather than Intel or whoever? Who is Estancia?

Lots of questions before I let go of my money.

BTW the SEC form that I referred to in my prvious post is a 20-F and this is the SEC definition of the form:

20-F This is an integrated form used both as a registration statement for purposes of registering securities of qualified foreign private issuers under Section 12 or as an annual report under Section 13(a) or 15(d) of the '34 Act.

I have seen BB companies sign significant agreements with major companies. Look at MKTY. They signed a joint venture with Detroit Edison as a BB and that's where they still are even though they've been making noises about a Nasdaq listing for quite a while. That's why their BB status is not so important to me and it makes me wonder why management stresses it (getting a Nasdaq listing) so much.

Who is Estancia and how much did they pay for the patent? Did Lienau somehow keep a share of the patent for himself by getting Pageant shares? I'm trying to get at how the technology was valued at the time that Lienau sold it.

w
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