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To: Frodo Baxter who wrote (5059)	12/6/1998 2:42:00 AM
From: Frodo Baxter	Read Replies (1) \| Respond to of 9256

Painfully read the merger documents for APM and DAS. Surprisingly free of useful information. The way I look at it, the deal is very vulnerable to fall apart, because by early next year, APM will be begging for cash, and DAS likely the same. (Heck, APM would already be bankrupt if not for the forbearance of its Malay creditors) The private offering for $20 mln in common is kinda funny too. The venture backers of DAS will kick in a few buck each, but the real sugar daddy is an investment arm of GM ($15 million). Why the heck would a car company care? Maybe it's because they get to buy the stock at 80% of market price...