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

To: Mark Oliver who wrote (3943)	10/22/1998 9:11:00 PM
From: Seconds Out	Read Replies (1) \| Respond to of 10081

To all, there has been some conflicting news about what time on the 11th that earnings would be released. I just got a phone message back from Wendy at GMGC who clearly stated that earnings would be released at the end of the day as is their custom. Of course, I assume they will be released within the hour that immediately precedes the conference call. I saw a legitimate post on Yahoo which stated earnings would be before the bell, but I am stating exactly what she told me after I left a message about the apparent confusion over the timing. Best wishes to all believers in the magic. Seconds Out.

To: Mark Oliver who wrote (3943)	10/24/1998 12:29:00 AM
From: Kurthend	Read Replies (2) \| Respond to of 10081

Mark, I think that you know that I am long on GMGC. Some of my concerns and thoughts are listed below. 1. I believe that GM had about $48m in short term assets (minus short term liabilities). Their expenses were approximately $9.9m. I believe I read that GM expected a marginal expense increase due to the rollout of Portico. I believe (IMHO) that $12-15m in expenses would be needed per qtr for the next 2-3 qtrs (to include the qtr ending Sep 30). This would leave only enough money for the company to operate through the end of March. This does not take into account any revenues. 2. I believe I read that it would cost around $3m and take 2-3 months to build another NOC. IMO, unless there is some sort of agreement with a teleco, GM will most likely need to build a backup NOC. 3. All indications point to announcements at the end of this year (perhaps Oct or Nov is considered near the end of the year) and early next year. These are only announcements. Revenues could come in 1-2 qtrs after the announcement (IMO). On the other hand, there is a possibility that they will announce at the same time the teleco is ready to start the service (the one drawback to this scenario is that wouldn't GM need to have a second NOC in place?). Whatever the timeframe, I do believe based on info that I have received that telecos will be announcing as they are impressed with Portico. I guess what I am getting at is that I am concerned about short term assets (the ability to survive prior to the full scale implementation and use of Portico). I am also concerned about any future financing. Knowing my luck after posting this message, teleco announcements will come next week and revenue will start pouring into GM in December. If this is the case then my three concerns above are moot. In fact, GM came out in Sep and stated that they are moving up the time frame so maybe good news will come before the end of this year. A lot will depend on the telecos as GM is basically at the mercy of the telecos (IMO). But, as Markman told me in late August / early September, when ready the announcements will flow. I just hope that the "when ready" is soon:) On the positive side, below are exerpts from SOME of the job listings which seem to be positive in terms of the job descriptions. One of the common themes is the network carrier responsibility and mix of distribution channels. GM seems to be very confident in signing up these carriers. GM is also looking for individuals to train "organizations." I have a hard time seeing GM train organizations only for resellers. The last item I noticed was the job opening for expertise in security sytems/firewalls. This appears to me that they are serious about getting major customers. GM has to know that to get any major business client that it is imperative that they have a secure system that can't be easily hacked. generalmagic.com, Job Openings as of 10/1/98: 1. Software Engineer (Billing) customize a 3rd party subscriber management and billing system. 2. Network Systems Sales Engineer You will be responsible for working with network carriers, business partner networks 3. Sr. Channel Marketing Manager ............... developing and managing reseller and carrier programs; ................ 4. Channel Training Manager ................You will establish and manage relationships with outside training organizations;.................. establish training test and certification requirements; ....... 5. Network Security Engineer ............. Responsibilities will include: assessment, establishment and implementation of a proactive security system. ............... You will be adept at.firewall set up, NT internet security and encryption technologies. You must have. excellent verbal and written communication skills. Knowledge of Java security is. highly preferred. BSCS or equivalent experience. 6. Product Managers ...............delivering virtual assistant products and services to a variety of target markets and with a mix of distribution channels........... I will stop rambling now. Take care, Kurt