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Technology Stocks : Ampex Corporation (AEXCA)
AMPX 10.90-2.4%Jan 26 3:59 PM EST
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To: Trenton A. Scott who wrote (3556)10/2/1998 6:57:00 PM
From: Hal Campbell  Read Replies (1) of 17679
 
Good posts all. Of course if you are going to hang your heart ( as Sean said....as many of us did) or your balls ( as Trenton describes ) ....or both... with a stock at any price over a long term ...and for matters of argument we can say that long term begins today ..... you had better know why. If you don't you'll probably end up needing both a cardiac transplant and an addidictomy. I personally am tussling with the why right now.
Question? From the SEC filing on Micronet.

<<(d) Prior to the closing, MicroNet settled outstanding balances with
unsecured creditors, the notes payable and certain unpaid
management fees and value added tax. The total forgiveness of debt
totaled $7,343. The gain on forgiveness of debt reflected on the
MicroNet Consolidated Statements of Operations has been eliminated
for the Unaudited Pro Forma Consolidated Statements of Operations
for the period ended June 30, 1998. >>

Was a portion of their debt actually forgiven by creditors, or is Ampex about to take a
$7,343,000 charge against earnings? Naturally it is a fine thing when a hammered stock declines no further on bad news, but it is the potential one-two punch of the next quarters earnings that concerns me most immediately.
As for AXC's lawyers? As the old saying goes, To Err is Human, To get paid for it is divine. I applaud AXC's swinging for the TV market fences.......for the KM fences. Sorry they struck out.

PS Ed...CD arrived..terrifically kind of you. Thank You! Book soon to be headed back atya. The more readable of Benjamin Graham's tomes.
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