In Perspective [What's Wrong With This Picture].
"...despite the recent turmoil in the telecommunications sector, we have witnessed dramatic growth in the VoIP market, both in terms of size and traffic...We believe we are at the center of the creation of new communications applications and services that will change the world...over the past year, HearMe made considerable progress in its strategy to capitalize on this emerging opportunity...while developing these solutions, we also strengthened our business focus by divesting the Mplayer/Live Communites business unit through a sale to GameSpy Industries, Inc.*...We believe our work over the past year lays [the] groundwork for solid, fundamental revenue growth..."
Source: Robert Csongor, CEO Letter to Shareholders dtd June 29, 2001 accompanying HEARME Notice of Annual Meeting to be held July 31, 2001 Def-14/A Proxy Notice and FORM 10-K/A. [Note: Of further significance is that this letter was dated at the close of q2 ending June 30, 2001].
*"...On January 19, 2001, we completed thte sale of our Live Communities business unit, including te Mplayer.com voice-enabled Internet site and the affiliated advertising network, to GameSpy Industries gamespy.com . Consideration for the sale consisted of $500,000 in cash, a short-term note receivable for $4,521,100 and 2,404,890 shares of GameSpy common stock..." Source: HEARME SEC FORM 10-K/A for Fiscal Year Ended December 31, 2000 ref/ nasdaq.com [Note: Said GameSpy [ASSET] is in addition to the ~$20M is cash and equivalents HEAR reported in its 10-Q filing on May 10, 2001 for q1 ending 31 March 2001.] |
