<MSFT seems satisfied with their investment...that's good enough for me.>
By the Tut statements below, it appears that by 1997, MSFT obviously wasn't satisfied with their investment, and it is now being paid back by all of you. The same holds true for all the venture capitalists and other private investors. The funding of the IPO has richly rewarded all of them -- and and is enabling them to get out. Maybe we are blind and stupid; but, before you hold this stock, I would sure suggest that even just ONE of you do sufficient DD to estimate how this Co. will ever be able to make it on its own. IMVHO, they had a good idea, attracted considerable initial interest, and couldn't make it. Period.
From the Tut 07/31/98 Registration Statement:
Page 24.....
".........Noncash Compensation Expense. Noncash compensation expense primarily consists of expenses related to the grant of a warrant to purchase up to 666,836 shares of Common Stock in consideration for technology endorsement, marketing and certain development support by Microsoft with respect to the Company's HomeRun technology and related products......."
{{ Emphasis added ---- Tut bought MSFT's endorsement! }}
Page 52.....
"......... On August 27, 1997 the Company and Microsoft entered into a Licensing and Cooperative Marketing Agreement (the "Microsoft License Agreement") pursuant to which the Company and Microsoft agreed to cooperate in the development and marketing of future implementations of the Company's HomeRun technology. Each party will own a half interest in the other's technology embodied in works made jointly by them. In connection with the Microsoft License Agreement, the Company issued Microsoft a warrant to purchase up to 666,836 shares of Series G Preferred Stock at an exercise price of $10.00 per share. This warrant expires, if not earlier exercised, on the closing of this offering........."
This may turn-out to be the wonder stock of the next century ..... and Santa may come to town then, too.
In addition to what was written last Friday, and the above, I don't have anything else to say on TUTS. It appears that "Thuy" {AIA if the name is incorrect} from this thread, and my associates and I, are the only ones who have really studied the Co.
Good luck to all of you. |
