Ampex Corp. Message Board

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Technology Stocks : Ampex Corp.

AMPX 12.73

+13.1%

Nov 7 9:30 AM EST

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To: phoenix2 who wrote (5458)	5/1/2008 10:45:32 AM
From: fuddled	of 5839

It is very troubling that Ampex is in Chapter 11 when Mckibben and Strickland did not explore all avenues of raising equity capital to get this company out of the debt mess with Hillside. Why didn't they contact Gruber & McBaine and all the other major stockholders to explore how to raise equity capital? Good point. In October 2001 Ampex Data Systems borrowed $1,000,000 from Bramson's Sherborne & Company Inc. Ampex gave Sherborne 50,000 shares as a "commitment fee" even though the loan had an 8% interest rate and was secured by ADS inventory. Ampex has a precedence for issuing stock just to commit to a loan. So, why couldn't Ampex do a similar deal this year? And, why doesn't Hillside just want ADS inventory like their original agreement called for? Hmm...

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