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To: Dolfan who wrote (25809)9/14/1998 8:20:00 PM
From: RocketMan  Read Replies (2) | Respond to of 50264
 
I think this is just a clarification to make sure everyone is aware of the preliminary nature of this Egyptian deal. It is a "Memorandum of Understanding," which means that they are in negotations leading to a potential contract, but it is not yet a contract.

I think we were all aware that there was no price specified in the release, which is why we were trying to do some back of the envelope estimates of what a contract might bring, and the news release clarifies that:

the press release does not contain any agreement on price between Digitcom and the appropriate authorities within the government of Egypt; does not contain any schedules for delivery of equipment or other provisions which are frequently incident to binding agreements; and does not legally obligate the government of Egypt to enter into any formal partnership, joint venture, or other agreement with the Company.

So it is a statement to reinforce that they are in discussions, but as with all negotiations, the price or even whether it will be concluded is still open. That is why the press release says:

The Memorandum of Understanding does, however, call for the parties to engage in further discussions concerning the subject matter referenced in the September 11, 1998 press release.



To: Dolfan who wrote (25809)9/14/1998 8:29:00 PM
From: Secret_Agent_Man  Read Replies (1) | Respond to of 50264
 
nevermind