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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Greg h2o who wrote (16108)	10/1/1999 10:00:00 AM
From: Sector Investor	Read Replies (2) \| Respond to of 42804

Greg, I'm still wondering why their previous equity position was only 55%. This from the Sec Annual report earlier this year: "In July 1998, the Company and New Access Communications, Inc. ("New Access") entered into a Securities Purchase Agreement, under which the Company purchased for $950,000 shares of the capital stock of New Access equal to approximately 19% of the capital stock of New Access then outstanding and warrants to purchase additional capital stock of New Access, which, if fully exercised for an aggregate of $2,050,000, the Company would own an aggregate of approximately 60% of New Access's capital stock (when the shares purchased upon exercise of the warrants are added to the Company's existing stake in New Access). The warrants are exercisable in two installments (provided the first installment is exercised) by July 1, 1999 and January 4, 2000, respectively. New Access is engaged in the development of new products based on wave division multiplexing technology. Dr. Margalit is the Chairman of the Board and Chief Executive Officer of New Access and a principal shareholder of it. Dr. Near Margalit is the son of Dr. Shlomo Margalit, a principal shareholder of the Company and the Company's Chairman of the Board of Directors and Chief Technical Officer."