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Technology Stocks : General Magic
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To: Seconds Out who wrote (9925)2/18/2002 1:08:04 PM
From: Kurthend  Read Replies (2) of 10081
 
Seconds,

I voted "no" on www.proxyvote for the additional shares. I really believe that GMGC is and has been run by incompetent "boobs." Either that or their technology really does stink.

I don't think they will be able to get the price of the stock up much past 50 cents (due to the 50 mill shares, capital needed to be raised, and the 20% discount). If you do the math then 50 cents is the optimum price for the "investor or investors." They won't give a penny more than that IMVHO. Why change the modus operandi? These investors are not altruistic individuals wanting to help retail shareholders.

I didn't listen to the latest CC due to work and my complete lack of faith in the company but it doesn't appear as though the leopard has changed its spots. I think this company is on its last leg. Who will partner or become a long-term customer of GMGC when the company is a stone's throw from bankruptcy? Oh, how I wish I had sold back when:)

Hope all is well.

Kurt
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