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Technology Stocks : Citrix Systems (CTXS) -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (7348)	12/5/1999 10:23:00 PM
From: David Perfette	Read Replies (1) \| Respond to of 9068

Another article from Thin Planet discussing ctxs and gojo. Discusses a little bit about gojo's new patents. thinplanet.com As a result, GraphOn has patent protection and licensing rights for the deployment of all Windows applications remoted, or displayed, over a network or any other type of connection to any X Window system. If we have any legal types on this thread, I think we would all appreciate getting some feedback on this patent issue. As I've said before, it seems absurd that someone could actually patent a concept and even more mind boggling that it could actually be held up in court. It's one thing if the question is around the technology, its another to claim rights to the whole idea. I think it's important we figure out with some certainty, the legitimacy and potential of this threat. -David P.

To: Chuzzlewit who wrote (7348)	12/6/1999 12:21:00 AM
From: Saturn V	Read Replies (1) \| Respond to of 9068

Ref- <"Free cash flow is synonymous with disposable cash flow. It is the amount of cash a company can periodically part with without adversely affecting operations. In general, free cash flow is a good surrogate for dividends, which is the basis for valuation"> I buy your the general spirit of the above statement, but I strongly disagree with the rest. I agree that capital expenditure required to maintain the existing operations be excluded from free cash flow. [ Because this capital expense is needed to hang on the existing market position or is needed for survival in the existing line of business.] But I would include in the free cash flow , capital expenditures or acquisitions for new lines of businesses, or investments in new companies. These expenditures are indeed DISCRETIONARY, and are undertaken so that you do not build up excess cash. The alternative for a company like Intel is to return the money to stock holders in the form of dividends, and then have the shareholder reinvest it in a new company. Unfortunately this is subject to double taxation for the shareholder. So I would prefer a company like Intel to reinvest the profit in a new business, and hopefully they will do an equivalent or better job than my reinvesting it. And the tax on the dividend is avoided.