sandintoes,
I didn't get a chance to watch the interview (thanks to my crappy cable provider ... but that's another story), so thanks for your observations.
Coincidentally, I've been doing some DD on HSAC lately. The incentive agreement for Charter to provide HSAC access to homes passed seems very attractive:
"As an inducement to Vulcan Ventures to cause Charter to commit additional
systems to the Issuer [HSAC], the Issuer granted Vulcan Ventures warrants to purchase
up to 7,750,000 shares of the Issuer's common stock at a purchase price of $3.23
per share. Vulcan Ventures subsequently assigned the warrants to Charter. The
warrants are exercisable by Charter at the rate of 1.55 shares of common stock
for each home passed committed to the Issuer by Charter in excess of 750,000. On
or before July 31, 2001, Charter may earn warrants to purchase up to 3,875,000
shares, which warrants must be exercised on or before July 31, 2002. ... On or before July 31, 2003, Charter may earn warrants to purchase an
additional 3,875,000 shares, which warrants must be exercised on or before July
31, 2004. "
(ref recent HSAC SEC filing)
So I'm assuming that HSAC will have access to at least a good portion of Charter's customers. Then, add this interesting fact:
" ...Vulcan has the exclusive right to designate High Speed's startup page... "
(ref recent Yahoo Finance article)
The more I read, the more convinced I am that VV has contractually woven GNET very tightly into the Wired World fabric. |
