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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Hal Campbell who wrote (9356)	6/19/1999 3:23:00 PM
From: Hal Campbell	Read Replies (3) \| Respond to of 17679

Severely truncated post. Thank Mike( and weekend chores)- he saved yall from alot of verbiage. < g > Before calling a less than 1% dilution in the float a cancer, please take a moment to look at where AXC was 17 months ago. Not on the edge of a cliff but nearing it. The KM door had slammed. They knew the Mitsubishi suit window might slam also. Sales were falling. Over 70 million in convertible debt. And an idea. The deal bought flexibility and time. Allowed for options. All points have been covered in various fine posts. Personally I have been evaluating AXC in terms of 60 million shares or more outstanding for awhile now. Look at the list of holders. Some are likely to be doing the shorting trick. Many are not. Obviously- very obviously - successful implementation of AXC's strategy, and subsequent possible great increases in both trading volume and stock price would render the debt almost meaningless ( due to the conversion options). So the arrangement was a gamble on success. Chances of success? Well one reason I am so absurdly overconfident ( dangerous place to be in most gambles) is that when I look at AXC's price to sales and internet price to sales ratios - even during ( or is it after?) this webstock correction, I see an enormous discrepancy. That is clearly why AXC is now trying - or starting on the 28th will soon be trying - to establish a focused market view of Ampex as an internet television company. Even if none of the news is startling, if they just do that successfully they will get a higher valuation. Possibly much much higher. Potentially very valuable real estate we are sitting on. Again I would appreciate ANY list of pure net tv type stocks outside of BCST from anyone. ( are there any?) Lets run a few price to revenues ratios and compare to AXC's right now. I think we will be looking mainy at numbers of 100-1 or much greater ...but that is just a guess. Now I realize IATV is not comparable...not really a broadcaster or narrowcater ...just a play on cable interactivity ...which will come naturally to the net in future net tv + it has the mammoth Malone card backing it....but even after its fall from 25 to 11+, its price to sales is over 300-1. And they have been losing money...bout 7 mil a year..since 1989. I think the market will eventually forgive ampex for making money with their approach..as they probably will be doing next year or sooner. Now- long term- those who have doubts about the sector itself ( me I think it is just getting started) would best lighten up or look elsewhere, because what we have now is a net tv company+ ( the plus being data storage and the patents). But really a net TV company....even more than a holding company.