GWRX Leader in Smart Phone Market Message Board

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Technology Stocks : GWRX Leader in Smart Phone Market

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To: DanZ who wrote (782)	2/24/1999 10:03:00 PM
From: N. Saliba	Read Replies (1) of 960

I will try to answer some of the questions. <<If they didn't issue new stock, then how does GWRX benefit financially from Amazon's investment? Does Amazon have representation on Geos Board of Directors now?>> They issued new shares for Amazon.com purchase. As of the day of the deal there was no rep from Amazon.com on the board. <<it looks like Geoworks got the short end of the stick on this part of the deal because Amazon didn't pay a dime for this part of Geos' business. Companies sell divisions sometimes, but they generally receive cash or stock or something of tangible value.>> That in particular is what I am not too satisfied with. Amazon.com paid 1.1 million or so over the going price of the stock, and that premium is what I think Geos got out of this whole deal. <<The only thing that Amazon did was relieve Geoworks of their lease obligation.>> That is a big relieve considering the goal is to cut expense for 1/2 million every qtr for the next three qtrs(I think). Their immediate goal is to break even by reducing burning rate and by increasing revenue. This qtr (March) I expect them to show 3.5-4 million in revenue and a loss of 1.5-2 million(company's forcast for the loss) <<Another thing that I would look at if I owned GWRX...what percentage of their personnel base did Amazon get? What is left of Geoworks now? What did the employees in Seattle do and who will do that work now? Are they going to stop working on whatever those people were working on?>> They had roughly 200 employees. I don't know what exactly they did in Seatle. IR told me that the consulting business will not affect any of their agenda, selling engineers to Amazon.com or subbing them out is the same for that aspect of it. <<You have been a long term holder of GWRX and I wish you good luck with the stock>> I first bought it in the twenties and the cheapest I picked-up was 2. I decided that Geos is not dead and there are few things in the pipe line to actually make it. NOKIA 9110 is getting good reviews so far and there are more things coming. This made me stick around and either do very well or just part with the thing(I am ready for that). We could use all the luck especially with all the management changes and with the competition. <<What ever happened to Bird (I think that was his nick name)?>> My bet he is still a holder and I have not seen his posts lately. I know he had good relationship with the management, but now with all the new people I cannot even guess. N.S.

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