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Technology Stocks : Ampex Corp. -- Ignore unavailable to you. Want to Upgrade?

To: fuddled who wrote (5462)	5/5/2008 5:09:40 PM
From: phoenix2	Read Replies (1) \| Respond to of 5839

The following excerpt was taken out of the Ampex Reorganization Plan: "Because the Company's debt exceeds the amount of its assets, its existing common stock currently has no value, and therefore will be cancelled on the effective date of the Plan. Under the terms of the proposed Plan, new equity in the reorganized Company will be issued to certain creditors. Although holders of existing common stock will not receive new equity under the Plan, those holders that do not object to the Plan may be eligible to receive some consideration. The Plan also contemplates that the new equity in the reorganized Company will not be registered or traded on any public exchange." The reason why the Company's debt exceeds the amount of its asset is because the assets have not been properly adjusted for the true value of its patents. Has anyone seen any report from Ampex disclosing the follow-up reports and findings of M-CAM and Commercial Strategies concerning monetization its patents? The follow-up reports and findings of M-CAM and Commercial Strategies have been a complete mystery to us shareholders, who management is suppose to represent. The way that AMPEX and Hillside rushed to Chapter 11 Bankruptcy after Bramson was fired sure makes the whole process appear rigged and deceitful. Anyone believe that the shareholders will be fairly represented at the bankruptcy hearing on May 14, 2008?