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Technology Stocks : VIRT (Virtual Reality Inc.) - An OTC company.. Anyone??? -- Ignore unavailable to you. Want to Upgrade?

To: Marc Slovak who wrote (129)	12/16/1999 12:36:00 PM
From: bob sims	Read Replies (2) \| Respond to of 172

Well Marc as if you didn't know but this may help a little: FROM WALL STREET JOURNAL..Reverse Merger vs. IPO Going Public by Reverse Merger In 1970, with no cash and in an exchange of stock, Ted Turner gained control of publicly traded Rice Broadcasting (WJRJ-TV) using a little known maneuver called a reverse merger. Virtually insolvent, but with a bold vision and control of a public company, he was able to tap the capital markets of Wall Street. His stock in the former Turner Broadcasting System (TBS) now Time Warner (TWX) is worth over three billion dollars. In February of 1996, Wall Street's top woman Muriel Siebert, who in 1967 became the first woman to buy a seat on the New York Stock Exchange., took her brokerage firm Muriel Siebert & Co, Inc., (SIEB) public through a reverse merger with J. Michaels, a liquidated Brooklyn furniture company. The legendary Arman Hammer invested in a public shell company in the 1950's and created an International company with 14,300 employee's worldwide and operating revenue of $10.6 billion in 1996. It's known as Occidental Petroleum Corporation (OXY). Reverse Mergers bring Public Shell Companies back to life. Companies usually go public by finding an underwriter and filing a Registration Statement with the Securities and Exchange Commission (SEC). An alternative method of going public is to effect a reverse merger into a public shell company. When the reverse merger is complete the operating company that wants to be public is merged into the public shell company. The public shell company is the legal surviving corporationThe name of the public company is changed to the name of the former private company and the controlling shares are transferred to the officers of the former private company. The net effect is that the former private operating company is now public with the same business, officers, directors with its shares being traded on the over the counter (OTC) Bulletin Board or on NASDAQ. The old shareholders of the public shell company also benefit; their old worthless shares now have value Reasons to Go Public The public company achieves liquidity for its shareholders through the OTC Bulletin Board or NASDAQ. Insiders "controlling shareholders" also achieve liquidity under Rule 144, which allows control people to sell, unregistered stock under certain conditions. A public company can use its stock to purchase other companies, collateralize loans or reduce debt in exchange for stock. Employee stock option plans also increase incentive. The capital markets of Wall Street could open to the company through private placements and secondary stock offerings once the market for their shares is established. Capital can also be raised through Reg S, offerings to foreign investors. Under certain conditions free trading stock can be created to reimburse for services rendered, under an S-8 Registration. Why Shell Mergers? There are four major advantages of a shell merger. It is a less expensive method of going public, and if the shell has capital, you will know before the shell merger precisely how much equity you must give up for that capital. In the traditional IPO, you do not have assurance as to how much capital you will actually receive until the effective date of the IPO, after you have already spent a substantial sum. After the merger, the existence of a public trading market in you company's stock is a very useful in attracting additional capital, since the market provides immediate liquidity for the investor. And finally, if the shell has a tax loss carryover, that carryover, subject to significant limitations, may be available to shelter the taxable income of your business.

To: Marc Slovak who wrote (129)	12/16/1999 1:26:00 PM
From: bob sims	Respond to of 172

Here's the last address. Why don't you do some research. Virtual Reality Inc. 333 Meadowlands Parkway, Second Floor Secaucus NJ 07094 USA Tel: 1-201-392-9800/Fax: 1-201-392-0156 product: HMD 133 And some old info: World Up Lets Users Create 3D Internet Environments Without C-Programming Skills And more: Virtual Reality High-Res. Color HMD133 Display: field sequential CRT Resolution: 1280 x 960 pixels Field of View: 40 (H) x 30 (V) Overlap: 100% Tracking: tracker mounts provided Note: connects to SGI RealityEngine field sequential interface Weight: approx. 3 pounds Price: $40,000 Vendor: Virtual Reality Inc. Sense8 Corp. introduces World Up, a complete development environment that includes an integrated modeler, a delivery vehicle called the World Up Player, and a Netscape plug-in for viewing. World Up reads and writes VRML 1.0 and will support VRML 2.0. It provides cross-platform portability without compiling, and its level of interactivity allows users to develop apps while a simulation is running. Built on industry standards, such as Windows and Motif GUIs and Visual Basic syntax, World Up supports 3D sound and also modeling packages including 3D Studio, Wavefront, AutoCAD, ProEngineer, and MultiGen. Third-party support includes: All Open GL accelerators on PCs Direct 3D accelerators StereoGraphics CrystalEyes and CrystalEyes VR Fakespace Boom Virtual i/O PDS i-glasses Virtual Reality Inc. high-resolution HMD Virtual Research HMDs Ascension Bird and Flock of Birds Polhemus Position Trackers 3D Studio Wavefront AutoCAD(DXF) ProEngineer MultiGen/ModelGen more: World Up World Up, the development tool responsible for NTT Software and Tower Records' CyberCampus in which customer avatars navigate virtual store floors, is a tool to watch in the emerging virtual reality market (see "Breaking Through Into VR," by Louis M. Brill, Multimedia Producer, August). With the tool's latest release, producers involved in the creation of design prototypes and VR environments for training and simulations can now side-step the lengthy C-programming phase of production and jump right into design. With World Up, users can manipulate object behavior and scenes in real time, getting on-screen feedback through point and click functions. Users can also switch from rapid prototyping to product release simply by flipping a switch. According to the company, design prototypes that once took months to complete can be finished in a matter of hours with the latest version of the software. World Up is VRML 1.0 compatible at present and will support VRML 2.0 in the future, which gives producers a range of Internet delivery options. Software features include a GUI-based interactive development environment, Visual Basic syntax, an integrated modeler, an interpreted environment that provides instant feedback and data visualization through ODBC. World Up also supports a number of modeling packages, including 3D Studio, AutoCAD and MultiGen, and third-party VR equipment such as Virtual Reality Inc.'s high-resolution HMDs and Fakespace's BOOMs. The software runs on SGI and Windows NT workstations and lists for $3,500. A World Up Player and Netscape plug-in come bundled with the package free of charge.