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Technology Stocks : 7th Level

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To: James M. Bash who wrote (570)	3/31/1998 10:17:00 PM
From: Joe C.	Read Replies (2) of 1019

James, they've been working with RealAudio for some time now and their site made reference to it as well. I've seen their technology since when they first made the site available. I do have high hopes for the company. However, this is a very speculatiive venture at this point and they have quite a few hurdles to clear: 1. merger has to get approved by stockholders (no mention of this on press releases) 2. additional financing (I believe about 10MM) has to come through (last quarterly SEC filing has the details) 3. they need to sign up paying customers for their development/consulting work 4. they need to deliver a workable tool for their own use or for sale to the public. The merger will probably happen because if they/we don't vote for it they will most likely go bankrupt. The financing is also likely but it will probably be expensive given their lack of assets. They're partnerships with Microsoft and AudioNet will give them a good start but they need to deliver the goods. Technically, their tools have been leading edge. They still have some talented folks and Pulse brings in some top notch 3D expertise (Did you ever see the roach game?) However, keep in mind that they are right on the edge of the cliff right now. They got out of the gaming business and laid off a large majority of their staff. This was unfortunate for the employees because they paid the price for some bad decisions. I agree with you that they have a winning idea and I feel that they are heading in the right direction. A lot of money can be made on the Internet and I hope to cash in on that. I bought in at 2 knowing that I could lose a lot if not all of the investment. On the other hand, if everything falls into place...$$$$$!!!!! :) Joe C.

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