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To: JWC who wrote (27818)5/9/1999 9:03:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 44908
 
JWC, I think that getting Hwang on board was a nice coup. I hope it works out. As you may have noted I did not like few of the projections in some of the plans. Two come to mind. The implication that 50 MM kids are going to participate in the music card charity business, is grossly misleading as I have pointed few weeks back. That Gordon can manage effectively and profitably a business of direct response (The Signature deal) when he failed doing so last time. The difference being that last time they worked on commissions and this time on a fixed rate per call. I think that this assumption must be put to the test of performance. From following the thread, I understand that now the positive cash flow hoped for status has been delayed by a quarter from former pronouncements, requiring therefore deeper draws on the floorless line, and that will result, IMHO, in additional, as yet unknown dilution. Last, the very recent PR implication of "possible conversion" at $3/share, to me had a slight sniff, of shall we say, hyping? Nothing is new under the sun, it seems.

Zeev