William,
I read your posts on Rande Is Home and admire your work.
Just wanted to bounce a stock off you, I already own it and like the story, but I guess if it was that great it wouldn't be trading at 1.
TELV - Televideo, a San Jose company who used to sell monitors and multimedia products but basically were getting their ass kicked and have now changed course. Their current business involves thin-client solutions (beats the heck out of me) and they also will market a plug and play internet box, the iT2000, in March of 2000. It will be less than $400, no set-up required and no tower, "small easy to use design" as they put it. I don't have an opinion on their prospects in these ventures, but according to investor relations thin-client computing is a hot area. They consider themselves a "start-up company with years of experience."
The stock got my attention because TELV has a more than 5% stake in mySimon. I spoke with both mySimon and TELV to ascertain the exact percentage and they would only say that it was more than 5 and less than 10. TELV invested $1 million in mySimon in Sept. 98. mySimon will IPO sometime next year and should do extremely well.
TELV also has a 30% stake in Applied Photonics Technology, but I don't know about APT's prospects, only that TELV has sunk $3 million into them and loaned them some more. APT has no sales, they are described as a "developmental stage enterprise specializing in the development of electronics display technology. APT has not recorded any sales to date but the company expects it's first sales will commence in Fiscal 99." IR referred me to someone else for questions regarding APT and he was out, I have a message in. It's either a potential gold mine or a black hole, but the money has been spent in either case.
TELV also has $5,000,000 in cash (it's book value is .37 according to Yahoo).
Add it all up and I think the company should be worth a lot more, the investment in mySimon is probably worth more than the $10 million m/c of TELV. mySimon is the leader in their space, I don't think a 500 million m/c is off base for mySimon, but that's just an off the cuff prediction, more research needs to be done to value mySimon.
Anyway, I think it's interesting and thought I'd solicit a more sage opinion. If you are interested, call investor relations at 408-954-8333 and ask for their investor kit and 10Q, it's good reading IMO.
Let me know if you have any thoughts.
kanetsu |
