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Technology Stocks : WorldGate Communications, Inc. (WGAT) -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (515)	2/26/2001 12:18:25 PM
From: John Liu	Read Replies (1) \| Respond to of 589

Anyone have any thoughts on what would be a catalysts for WGAT to move up? It seems GMST, OPTV and LBRT have alot better PR then WGAT. Thanks, John

To: Benny Baga who wrote (515)	2/26/2001 5:00:47 PM
From: Mkilloran	Read Replies (1) \| Respond to of 589

benny...GMST is the safest since it has real revenues and positive earnings. But IMO their future is very bright and much of the future has NOT been priced into this stock. IATV (ACTV) ..growth rate est is more than 90% looking forward. Granted it is a spec investment but with John Malone's Liberty backing and global partnerships that are being formed it may be the biggest winner longterm from these leveles... The ITV field is very young and won't mature before 2007-2010: EPS($) Q1 Q2 Q3 Q4 Year Consensus 1999A (0.25) (0.16) (0.11) (0.18) (0.70) - 2000E (0.12)A (0.14)A (0.17)A (0.22) (0.63) (0.61) Prev2001E (0.22) (0.21) (0.13) (0.12) (0.68) - 2001E (0.22) (0.20) (0.12) (0.11) (0.65) (0.58) Prev2002E - - - - 0.00 - 2002E - - - - 0.02 (0.16) Prev 2003E - - - - 0.34 - 2003E - - - - 0.37 0.44 Prev 2004E - - - - 1.05 - 2004E - - - - 1.10 N/A Quarters may not add to year due to rounding and changes in share count. Rev($mil) Q1 Q2 Q3 Q4 Year 1999A 0.57 0.56 0.60 1.18 2.91 2000E 1.39A 1.65A 2.79A 2.61 8.45 Prev2001E 2.99 4.04 5.73 6.94 19.69 2001E 4.68 6.64 8.47 9.90 29.69 Prev2002E - - - - 57.50 2002E - - - - 71.50 Prev2003E - - - - 111.20 2003E - - - - 129.82 Prev 2004E - - - - 205.30 2004E - - - - 229.33 E = Estimate, A = Actual

To: Benny Baga who wrote (515)	3/8/2001 6:11:03 PM
From: Benny Baga	Read Replies (2) \| Respond to of 589

Just my thoughts on the major players in ITV...Revised Company......Cap/Revs.....Growth.Rate(est.) WGAT..........7x.Revs.....100%+ GMST..........13x.Revs....40%+ OPTV..........15x.Revs....100%+ LBRT..........26x.Revs....90%+ IATV..........41x.Revs....90%+ To do the calculation I used trailing 12 months of revenues and current market cap. GMST looks well position and doesn't appeared to be overvalued. It is very clear why this is a favorite among institutions (size + strength) and a fair valuation. One drawback of GMST is that they are limited to the IPG, and for the most part are not involved in Internet TV or the Full Motion Ad space. Although they have eBooks (but that is a different market). Worldgate still seems to have the most upside potential, based on multiple and growth rate. In addition, comparison to OPTV, the WGAT market has much more potential (OPTV = Sat. and WGAT = Cable), although OPTV is trying to enter the Cable market. IATV seems the most overpriced and the most risky. Benny(IMHO)