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Gold/Mining/Energy : Meteor Technologies -- Ignore unavailable to you. Want to Upgrade?

To: jerry janko who wrote (184)	11/10/1999 7:55:00 AM
From: jerry janko	Read Replies (2) \| Respond to of 2127

Part of Kaiser's weekend update: Meteor Technologies Inc (MMI-V: $0.16) has announced completion of its purchase of a 35% equity stake in Thoughtshare Communications Inc. Fred Fabro, formerly of Highpoint Telecommunications Inc (HGP-C; $7.00), has joined Thoughtshare's board as Meteor's representative. Although Meteor's news release makes it sound like Meteor is content to sit with a passive 35% stake and is seeking active involvement in a new Internet or telecommunications related venture, this talk is for the benefit of the Alberta Stock Exchange, which is anxious that none of its listings undergo a change of business direction without a trading halt. For Meteor to chase other ventures after barely scraping together $500,000 to earn its 35% stake in Thoughtshare is ludicrous. In reality the boards of both Meteor and Thoughtshare are discussing the best method for Thoughtshare to fund further development of its browser plug-in. It doesn't take a brain surgeon to recognize that a business combination between Meteor and Thoughtshare is a logical step that would grant liquidity to the private shareholders of the remaining 65% stake and provide easy access to the public capital markets. One obstacle is the uncertainty regarding whose rules apply after November 29 when the ASE and VSE merge to form CDNX. Getting vested for 35% was a very important hurdle for Meteor because it now gives this bottom-fish important say in the future of Thoughtshare. The three key shareholder groups are now Meteor, Simon Fraser University, and the founders headed by Steven Forth and Michael Lebowitz. This milestone is important for potential financial backers, whose involvement will figure in any merger discussions. Assuming the talks go well, I would expect the stock to creep back into the $0.20-$0.30 range over the next three weeks. The most sensible scenario would be a trading halt in conjunction with a merger and financing agreement by early December, with completion in the new year. Once Thoughtshare has a commercial prototype the story will sell itself. Meteor Tel #: (604) 682-7076.