I wanted to paste another post which I found very relevant
from an active individual on Yahoo named ConcernedAgain:
here it is:
Good Evening Ladies and Gentleman,
As some of you know, I sent Dr. Markman and Investor Relations an e-mail a few
days ago asking a number of hard questions that I'm sure have been in the back of
everyone's mind. I wrote the letter out of frustration and with the feeling that even
with all the positive events lining up, we were still going nowhere (except down).
The e-mail I sent is on the board if you want to know what my inquiries were.
Well, I sent the e-mail about 6:00 PM EST and by noon the next day I had my
responses.
Investor Relations reply was posted to the board that day. Dr. Markman asked
specifically in is reply that I not post it to any stock boards. I immediately wrote
him back and thanked him for his prompt and open response and assured him that I
would not post it to any board. I also apoligized if I had come off in an accusitory
tone. I really didn't mean to.
Here is a brief synopsis of his response to me.
He assured me that no one who is allowed to trade has any information the general
public does not. I took that to mean the preferred share holders know no more than
you or I concerning what may or may not be in store for GMGC.
He also stated that the vast majority of shares are held by small shareholders who
can be easily influenced by those who "weave the facts to make their case, cause
panic and make money." And that it is us, the shareholders, who really control the
price.
As far as the preferred shareholders, he did not beleive they were shorting - but
either holding on for the future or making their money on the stocks volatility. He
said they had nothing to gain by shorting "unlike some of the folks on the boards".
GMGC has tried to communicate their business model without letting the
competition in on too much. General Magic is by far the market leader.
Everything that can be released has been released in a timely fashion. The news
simply has not sunk in. The WK deal "is a blockbuster deal and the shareholders
simply don't value it the
way we do." That this was an announcement "to enter a lucrative market (i.e. not
price sensitive) with a commercial service....not a trial." That GMGC has
announced "a series of OEM deals that will result in commercial services in
2H99. Once these are released, the revenue will start to build."
The WK deal was released through normal PR channnels. Nothing was
down-played. ThinkIntel has no contract with GMGC and has no inside
information.
Against all the negative speculation, all he can do is deliver. GMGC is doing that
and will continue to do that and at some point it will pay off. He won't hype or
make promises he can't keep. And in closing, "In time, I believe this is the best
course and I hope you will help to convince others to look at the whole picture.
Good luck"
So, what do we know now that we didn't know before? Nothing really. Except that
Dr. Markman beleives in the course of GMGC and that the investment community
hasn't yet gotten a grasp of how GMGC will perform. His tone implied to me that
we will end up performing well.
I, too, am disappointed in the recent price action. But as to what Dr. Markman
said, it is the small shareholders who are selling or shorting. Don't let yourself be
talked out of your shares at these ridiculous prices. Don't have your GMGC on
margin. From what I understand, if they are not on margin they cannot be
'borrowed' to be 'sold' to the shorts to cover. I truthfully don't think GMGC put out
the appropriate PR for the WK announcement. It should have been much better.
All in all, I was heartened by his responses and that he truly beleives in the future
of GMGC. I think he has some surprises up his sleeve that we can only guess at.
Good luck to all beleivers in Magic!
(wstera2, if you have anything to add to this, please do so)
Good night all - *ConcernedAgain*
Helps me sleep better. Good luck to all
Sincerely, Robert |
