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Technology Stocks : Advanced Radio Telecom (ARTT) -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Levy who wrote (569)	4/2/1999 1:22:00 AM
From: DavesM	Read Replies (1) \| Respond to of 1176

Question: Does anyone have an opinion of WinStar Communications (SEC form 10-k) dated March 31,1999 and will it have any effect on ARTT. They both use 38GHz right? sec.yahoo.com "We filed our own petition as well as comments on certain petitions..." "a petition have been filed with the FCC by Motorola and other satellite companies requesting that such rules be considered in order to allow satellite systems and wireless systems to co-exist on a co-primary basis in the 38.6 to 40.0 Ghz Band. If the FCC were to allow transmissions from space to earth as proposed by such applicants, such transmissions could possibly adversely affect our existing or future..." "in March 1999, three Petitions for Reconsideration were published in the Federal Register attacking the V-Band Order. Two of these petitions specifically requested use of 38 GHz spectrum for commercial satellite operation..." Is this old news? I didn't see anything on the WCII site.

To: Bernard Levy who wrote (569)	4/2/1999 7:19:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 1176

Bernard, RE:<<why should any buyer pay top dollar for ARTT when the FCC will soon auction off 1.6GHz worth of spectrum in 100MHz slices in all BTAs? Grabbing one or 2 slices in key markets would give a would-be buyer the same as what ARTT already has.>> Winnning the auction in 49 of the top 50 markets and 90 of the top 100 is easier said than done. If you want to use pure spectrum as a measure, it is much easier to use the recent WNP-->NXLK deal to value the ARTT spectrum alone. And note that given the market's reaction to that deal, most agree that C. McCaw got a good price, so it is apparent that the valuation in the NXLK deal provides a floor for ARTT. In posts on the WCII thread, you have exhibited an admiration for WCII and its management. When WCII paid $17 for ARTT shares, was that a mistake?

To: Bernard Levy who wrote (569)	4/2/1999 2:30:00 PM
From: Richard Dunaven	Respond to of 1176

Hi Bernard, Just a few comments to your notes on a slow Fri: <<With respect to b), why would WCII be interested in ARTT's foreign licenses, since it has now gained spectrum rights in Great Britain.>> There are many other well respected players that would love to have discounted last mile services in US and EU to create an end to end connectivity network. <<Finally, when ARTT's CEO indicates he is evaluating financing options, what makes you thing he is not talking about vulture financing?>> One never knows for sure but with the WCII/Williams deal as well as other CLEC/Long haul fiber deals, Co's are realizing the value in having combined assets. Convertible debt financing could have been achieved several months ago however I believe the Co is seeing the value in strategic alliances that serve both partners well while rolling out the next generation of Telecomm products. << Admittedly, ARTT looks a lot better than CVUS. Yet, it spectral assets and business operations pale in comparison with WCII, TGNT and NXLK.>> One must ask the question that with technology improvements how much spectrum is enough? I think they have enough to offer a partner tremendous improvements in Revenue and improvements to the bottom line. Two Co's combined often be far superior than one! Relative to the operations side, with the right partner this problem is solved and it becomes a win/win situation. <<The bottom line is that ARTT looks like a risky investment at current levels, and I do not view the current euphoria as particularly rational.>> I do not believe ATAB's valuation of the spectrum is correct because using a Mhz/Pop # is not the way to evaluate these Co's so much as what can be done with the amount of spectrum they have. The spectrum ARTT has is valuable to many Co's for the reasons stated above. Again, how much is enough? Therefore, considering ARTT is the most undervalued BBFW Co out there relative to the others, they can offer a tremendous upside potential when combined with the right partner. JMO and thanks for all your technical posts on both the ARTT and WCII boards. I really enjoy reading them! Have a great weekend! Ric D.