Rande and all....in need of some brains here....
This concerns ADAP -
The acquisition of AstroTerra by MRVC had me curious for some time:
biz.yahoo.com
Primarily because ADAP owns 12% of AstroTerra according to its 10-Q:
shareholder.com
"For the nine months ended March 31, 2000, we used $16.4 million of cash for investing activities, including an additional $1.0 million investment in AstroTerra Corporation (AstroTerra) which brings our ownership interest to 12%"
IR has not returned my messages concerning this matter, which I find strange because, up until my latest questioning, Susan at IR had been wonderful at returning info promptly (her father is in my home town).
All in all, I may be making a mountain out of a molehill here, but AstroTerra is to become one of the optical units within the eventual MRVC IPO of Optical Access Inc.
There has been no filing by ADAP to amend its ownership position in AstroTerra, so I assume it still retained its 12% during the acquisition by MRVC.
Here's a touch about AstroTerra:
<AstroTerra was founded in 1992 and quickly established itself as the recognized leader in the high-speed optical wireless communications field. The company's strong intellectual property includes patented technology that uses multiple transmit apertures to avoid atmospheric scintillation fade. This allows wireless optical transmission up to 5 kilometers.
In partnership with Lucent Technologies, AstroTerra was the first to demonstrate a working laser communication system capable of transferring data at rates of 2.5 Gbps over a range of 2.4 kilometers. AstroTerra's new TerraLink Fusion systems combine an optical communication link with an automatic radio frequency back-up to provide 100 percent wireless availability, even in the worst weather conditions.
AstroTerra has shown great success in developing high-speed satellite laser communications technology, most notably with the Ballistic Missile Defense Organization and U.S. Army Space and Missile Defense Command.>
In a way, I am looking at this as being as simple as a future back-door IPO play. However, there is something more to this that eludes me.
ADAP has been languishing as a result of their non-announcements of OEM deals (which they have promised and promised). The thought is that if their quarterlies do not address new OEM relationships, we could be in for a serious tanking (besides a tanking for any earnings miss or slight weakness).
I'm going out on a limb in the belief that they will have something large in the quarterly tomorrow night. How large is anyones guess.
Can anyone else shed some intuitive light on my darkness?
Thanks. |
