Mark,
Thanks for the link on the other GMGC site. I would love to attend the shareholder's meeting this month. Unfortunately I will not be able to make the trip. Always comes down to money. If there is anyone on this site that attends please ask them, among other things, their need for cash infusion (ie will they need to get a partner for cash similar to what QWST did with MSFT). I have a feeling their costs and expenses for this qtr will be at least $15-16 million with only nominal revenues. I base this on the information below.
Expenses for 3rd qtr was $11.9 million.
Per the last CC
>>....we anticipate increased operating expenses primarily in connection with continued efforts to develop market demand and distribution channels for the Portico service and the magicTalk voice user interface platform. >>
>>>Effective in October, General Magic divested the DataRover division, which is now operating as DataRover Mobile Systems, Inc. In exchange for a 49% interest in Data Rover, the Company contributed cash and net assets totaling $3.4 million.>>>>
>>>Cash and short-term investment totaled $46.8 million as of September 30, 1998>>>>
I am assuming that in the 1st qtr of 99, that expenses COULD go down as there will not be a $3.4 million expense related to DataRover. Which is good. But still, after 4th qtr of 98, cash and equivalents will go down to probably $30 million. Enough to last 2 qtrs at the most.
I believe that this is one major reason why the stock price has not popped up. Major investors, IMO, want to see what GMGC will do in terms of gaining addition capital.
I will stop rambling now. I am still long on GMGC and still have great hopes for GMGC's technology.
Take care,
Kurt |
