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Technology Stocks : General Magic
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To: Souze who wrote (9805)10/17/2001 9:14:02 AM
From: Seconds Out   of 10081
 
It certainly is a good sign that the Preferreds agreed not only to make a deal to give up their reset rights, but also to accept a payment not in cash but in the form of a note secured by the assets of the company and not by potential additional stock issuance.

Also, it is interesting to note that this was announced after the reset period, during which the stock price rose. Might the timing have been to allow for certain short positions to be closed out during the reset period? Might this also be the foreshadowing of some positive events to unfold based right now purely on the Preferreds current decision making strategy?

Regardless, it is another step in the right direction. It allows a greater comfort level for new financiers to help fund the company. Now lets see some progress not only on that front, but on the product acceptance front.

Seconds Out.
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