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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Seconds Out who wrote (9438)	4/3/2001 11:31:44 PM
From: Kurthend	Read Replies (1) \| Respond to of 10081

Seconds Out, I briefly perused the 8K and just don't like. Maybe management did make a conscious decision, but I think for them to do a lousy $2 million financing deal over a period of basically 3 months means they have no revenue coming in for the next quarter or two and are hurting bad for cash. Unfortunately they will run out of money around October or so. I guess I am just really ticked off because they waited until the last business day to do this deal. What is Rose doing in her job as the CFO? Didn't it even occur to her that GMGC needed the money prior to now for alleged auditing purposes? Appearance is everything and it appears as though they are just scrambling at the company. Not something that instills a lot of confidence in GMGC. Is Paul Revere Capital Partners Ltd really that much different than the preferreds? Why risk going below $1 per share for a measly $2 million unless you are faced with bankruptcy? Don't mean to be so negative but I am really appalled at the leadership of this company. Also, get ready for a registration or authorization of another 10 million shares or so since GMGC will no doubt need the limitless supply of shares to finance the company. One other question I have is, "how will this affect other financing deals if GMGC needs more money prior to mid-July?" Has GMGC thought about that one? I wish I was as positive as you and others in thinking maybe some news will be coming out to propel this stock higher but with this constant need for cash I can't see anything great in terms of stock price even with a huge partner coming on board (unless the partner is actually a customer who will guarantee monthly/quearterly revenue). But, if this was to happen why settle for this $2 million financing deal? Anyway, thanks for sharing your conversation with IR today. I do appreciate it. Take care, Kurt