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Technology Stocks : Micromem Technologies ***MAG-RAM*** ( MMTI) -- Ignore unavailable to you. Want to Upgrade?

To: serrier who wrote (11)	5/17/1999 3:55:00 PM
From: wily	Respond to of 95

I'll be reading this document tonight: sec.gov Nobody from the old Avanti thread showed up. I PMed them all. Wonder what that means? w

To: serrier who wrote (11)	5/18/1999 1:11:00 AM
From: wily	Read Replies (2) \| Respond to of 95

I had a look at that SEC document. I find it kind of strange that a minerals and oil development company (that did no business in the 3 years prior to buying Pageant) was the one to acquire Pageant. I also do not follow the transactions involved. How much was paid to Lienau for the patent (if it is anyone's business)? How is Micromem funded? They have unlimited number of common shares authorized. 2MM voting preference shares authorized. They have issued 36MM common shares. That puts their market cap at approximately $250MM?! (The BEAR report values the technology at $30MM. Who is BEAR? At what point of development is it worth $30MM?) What happened to the money received from the issuance of common shares? Who bought the shares and when? Why don't the proceeds show up on the balance sheets? They value the patent on their asset sheet at $46MM. How do they arrive at this? Total expenditure on development with U. of Utah: Twohundred and some thousand dollars. (Although they plan to spend $3MM on equipment for the University facility that is under construction). I believe there are some alarm signals here. Admittedly, I know little about these accounting things. I'm hoping someone more familiar can take a look. Regarding the technology: A working 8-bit sample, which they have produced or are supposed to be near to producing: that is a VERY small piece of memory. I'd have to think that something usable would be quite a ways down the line. That's it for tonight. wily