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Technology Stocks : Osicom(FIBR)
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To: David Pawlak who wrote (1145)6/12/1997 10:26:00 PM
From: Afaq Sarwar   of 10479
 
David,

I have a question regarding the ABCN deal. All the math appears to be based on on two pieces of information. One, that ABCN owns 5 geoslots; and two, that each of these geoslot is worth $750 million. I understand that both of these pieces of information were given by Par verbally during the previous conference call.

If possible, I would like to know if these two pieces of information have been, or can be, independently verified.

The reason for a possible concern is the fact that ABCN used Osicom shares as collateral to obtain loan ( I believe the amount was close to $ 3 million). Why ABCN had to use Osicom shares as a collateral when they have this real asset worth $3,750 million that can be used for the same purpose.

I am assuming (and hoping) that there is a logical reason for doing that. But not knowing that, I am obviously little uncomfortable.

I hope you or some one else will be able to shed some light on this question.

Thank.

Afaq Sarwar
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