METRICOM - Wireless Data Communications Message Board

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Technology Stocks : METRICOM - Wireless Data Communications

MCOM 0.0101

-3.8%

3:10 PM EST

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To: Rex Takasugi who wrote (583)	12/23/1997 9:06:00 PM
From: Rex Takasugi	Read Replies (1) of 3376

Form PRER14A Filing This form is a prelimary proxy form. I highly, highly recommend reading pages 13 - 21 or so, starting with the section entitled "Background of the Transaction." It's too long to copy and paste. You can find the filing in whatever you use to access Edgar filings; I use freeedgar.com I haven't gone back to correlate the background material in this proxy with postings on this board, but my sense is that what was written in the proxy closely correlates with some of the postings about the debt financing transactions, lending credibility to those who posted regarding rumors surrounding this transaction. The fairness opinion rendered by Fuhrman Selz is worthwhile reading to see how they try to measure the monetary value of MCOM. The values range all over the place, illustrating the difficulty of valuing MCOM from a fundamental viewpoint. An important point brought out in the proxy is that Vulcan intends to emphasize technology development over subscriber growth over the next year. Obviously, this is long term positive, but short term negative. I don't have time to summarize any further, but if you have any interest in MCOM (long or short), you owe it to yourself to at least read the pages I've highlighted above. It'll give you quite a bit of insight into the management and board of MCOM, as well as into the intentions of Vulcan. Rex

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