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Technology Stocks : General Magic

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To: Kevin G. O'Neill who wrote (6045)	5/4/1999 7:59:00 PM
From: deepresearch	Read Replies (2) of 10081

I think you should take a look at the new Markman memo which clarifies the pricing structure quite well. Maybe they could have done that in the PR as well... sigh. "BellSouth will also be offering a flat fee pricing structure for its Portico service. Customers in Atlanta will use their local cellular number, instead of a toll-free number, to manage their information. The cell phone number will be an added convenience for BellSouth customers, however, long distance calls (both inbound and outbound) won't be included in the flat price. Along with BellSouth, we'll be monitoring the pricing and customer usage patterns closely." ie - what they get for $29.95 is unlimited GMGC NOC time but they are paying BellSouth mobile fees for all their connect time (ie not the Portico toll-free arrangement), I suspect GMGC will be getting most of the $29.95 - BellSouth will be benefiting from the increased mobile minutes. A very different pricing model to the existing Portico service. Also note that it does not include inbound and outbound long-distance so the GMGC profit on this is still there. Plus as many more subs come on line the NOC cost per subscriber will drop and you can expect to see different pricing models emerging across the board. BTW, does anyone know if a BellSouth reseller gets a slice of the on-going airtime fees for subscribers they sign-up? Anyway - great to see BellSouth on-board, news we have waited for a long time and a great validation of GMGC/MagicTalk/Portico. Remember it took Wildfire about 3 years on the market to get to this point. Price action today seems to be more 'buy on rumour sell on news' than any 'street' concern over the S-3 filed a week ago (why does it take the WSJ a week to read it anyway?) I still believe there is more news to come re:major equity partner/takeover. I am now more inclined to believe the former than the latter. And I still believe it will be QWEST (last mention from me too <g>). So what does today's news mean? We are proceeding to plan. Good luck to all.

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