SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : GTIS - Will it be a Phoenix or not ?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Trader Dave who wrote (1331)12/13/1997 2:56:00 AM
From: Bill Gizzo  Read Replies (2) of 2319
 
Which is it Dave ?
In reply # 1282 you say
<I was on the conference call. In addition, my checks make it very clear, the way things were progressing or not progressing at MPRS would have lead to a materially dilutive acquistion for GTIS, which is against their stated objectives.

<< i suspect that GT uncovered things at MPRS which were not obvious when the deal was signed.>>

I know MPRS from the wild bill days before spectrum. i bet the remants of mismangement remain today.

GT may not have the hottest in some of these top ten lists, but it is a well run company.
The management knows what's going on and has acted responsibly by backing out.>

Now in reply #1331 you say:
<I think the merger may have gone bust because of some accounting aggressiveness on GT's part.>

So now you claim it wasn't MPRS's lousy management practices it was GT's, this by a company that you stated was well run by responsible management. All of this BS is no doubt based on that MM stooge Greenburg's article. For the record here's the statement from the 10Q.

Royalty advances of $87.5 million as of September 30, 1997 represented
advances to outside parties for various products expected to be delivered throughout the next several years. The Company regularly reviews the expected return of prepaid royalties over the anticipated life of these products developed or to be developed and establishes reserves where appropriate for products not expected to recoup prepaid royalties.
In light of the acquisition of SingleTrac in October 1997 and the anticipated acquisition of MicroProse in December 1997, the Company is reviewing the status of these advances to determine the expected rate of return and whether, in view of the Company's evolving strategy of increasing its focus on internally developed product, certain of these third party products may be abandoned in favor of internally generated products or for other reasons.
To the extent the Company determines as a result of this review that any product will not be supported or pursued, the Company expects to expense the applicable advance account in connection with the acquisition of MicroProse.

It states the advances cover products expected to be delivered over the NEXT several YEARS.

It further states that "certain (not all)of these third party products MAY be abandoned in favor of internally generated products or for other reasons".

Finally since the merger is off why would GT need or want to abandon or not persue those products and why would they need to expense any account, or restate any earnings statements ?? Oh yeah, why is it now a month after the 10Q's been available that the pointy head analysts bring this issue up?

Cheers
Bill
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News