More discussion of financial and asset position of PLFM:
Message 4371766
To: +ezXit (2133 )
From: +Bruce A. Thompson
Thursday, May 7 1998 7:27PM ET
Reply # of 2138
More on conversation with Todd Violet
Cash.................$2.1 Million
Buildings.............None They are operating out of donated
space. Rent free.
Aircraft..............1 fully functional(used in fridays test)
Todd advised that the cellular technology used aboard the aircraft is the property of the company.
Patents are pending. I asked some #'s about the costs:
One "System" consists of three aircraft complete with all equipment. Also including a ground
support crew of nine people needed to keep rotating schedules and one aircraft in the air at all times
and all ground support equipment for repair & maintainience, total out the door..........$7,000,000.
One system will handle up to 250,000 customers who will average $30 per month in billings each.
Profit margins are supposed to be 58% or $4.8 million per month per system.
Todd advised me that the "Next generation" system is already in construction that will handle
many more calls per plane. (not to mention all the other uses. (Pagers, Cable TV...etc)
The Space Division
Classified, classified, classified, classified. I'm sorry Mr. Thompson, but if you are basing your
investment decision on anything to do with the Space Division, Please Don't.
Lastly, Howard Foote has the right to buy 1,000,000 shares at a reduced price, but Tod did not
know the particulars. I spoke to Todd regarding the future of funding the "Systems" as contracts
are signed. Specifically, I wanted to know if he knew what Convertible Preferreds were. In a word,
he knew all about convertibles and said they were Suicide and wondered why anyone in their right
mind would issue them.
That's about all we talked about. I just wanted to post this info for those lurkers and turnip farmers
out there.
Bruce |
