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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: Harpo who wrote (2933)	1/19/2000 8:23:00 PM
From: Kevin Podsiadlik	Respond to of 3015

SRCM still has half interest in the joint venture, which consists of LocalSource (see localsource.net for the extent of that), and the interactive program guide (which by many accounts is a weak sister to the ones offered by digital cable and satellite providers today). SRCM itself, as best as I can tell, basically owns the phone directory content business they got from Brite (which lost most of its contracts to employees who quit). Not much meat left on the bone. Only thing keeping it up that I see, is the fact that there aren't any unbiased professionals looking at this stock closely enough to point out how bereft of income producing assets SRCM really is.

To: Harpo who wrote (2933)	1/19/2000 10:46:00 PM
From: MW	Read Replies (1) \| Respond to of 3015

harpo; go figure, I have a different take on the transaction. Go with whichever you wish but keep in mind that the same person[people] who are telling you srcm is worthless are the same people who have been telling you that they had no compelling technology or patent position yet they just somehow managed to sell just a piece of this nothing for close to 200 million of liberate stock. Actually Kevin is correct for a change although we disagree over the value of srcm's content and program guide. Time will tell. The conversion of the bonds is a great move by the co. For every 1000$ of bonds you can convert to 50 shares of common with a maximum price on the stock of 20$. At most, the co will only pay par in stock to buy the bonds but most likely it will be less. Before you ask why would bondholders accept less than par in stock to convert, you must understand that alot of current bondholders own their bonds at 50 cents and under. Many original owners have sold long ago and taken their losses. If you own the bonds at 40 cents and could convert to 75 cents of stock{ 50 shares x 15 stock price/ 1000 dollars] why wouldn't you convert? Now the co will significantly reduce their debt and concentrate their efforts on marketing their content and epg through their liberate special content relationship. And Kev; What is the difference between srcm's program guide and its competitors, and why doesn't it compare as you state?