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Technology Stocks : General Magic
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To: Seconds Out who wrote (9860)12/13/2001 6:03:21 AM
From: dgurgel   of 10081
 
I too think GMGC did nothing improper on the disclosure of this deal. As to the Enterprise software, there are indisputable facts as you have noted: the release was promised in SEC filings and at both Redchips. I posted about at least six times with varying guesses of my own, ranging from December 6 to early January.

As to the Fortune 10, no facts have been disclosed so far. I think it was known by Russian but not disclosed to the investors except in general terms similar to those used by Layton at Redchip. I think it was also known to Russian to be just a first small step in license sales. If any deal with a nearly certain and immediate large value was known to Russian before the deal, then he was very foolish; and he does not seem a fool or someone who would disclose insider info.

Two hours before the announcement of the $0.32 deal, I talked to Laura on the phone and asked if a friend of mine and I could come out in January to discuss a large investment in GMGC that my friend had discussed with me. We briefly discussed the NDA (non disclosure agreement) that would be done. Although my friend has often participated in private placements of stock of publicly traded companies, I have not. I do not know what information is properly released to potential investors under an NDA, but I am assuming that details of a big, pending deal could not be disclosed. Perhaps I am wrong.
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