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Technology Stocks : METRICOM - Wireless Data Communications
MCOM 0.0140+27.3%Jan 9 9:30 AM EST
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To: Dan Packer who wrote (560)12/12/1997 1:52:00 PM
From: Tim Kenney   of 3376
 
>This new majority investor gives them access to cash. But I would assume at a price. That
price could well be a recapitallization which would destroy current shareholder equity.<

Hardly. Paul Allen was foolish enough to pay 12 bucks ("I bought my MCOM for 12 bucks") for newly issued MCOM shares. For a company with only an iddy biddy bit of book value, I would say that that amounts to building shareholder equity. An MCOM shareholder now owns a little less of the technology that no one seems to want, but a little more cash. I would take the cash anyday. Unfortunately, MCOM management will probably try to pay it to themselves before Allen finally gives them the boot.
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