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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: HPilot who wrote (8609)	5/20/1999 10:41:00 PM
From: killybegs	Read Replies (1) \| Respond to of 17679

Hugh, I don't know if you are replying to my message.. . Anyway, I don't expect in the IPO, any shares would be sold by founders or Ampex. I expect it would be new shares entirely. If things go well, founders could sell some stock in a follow on offering down the road. Also, to get the IPO done, the money raised would go to the TVontheWeb entity for working capital and general corporate purposes such as acquisitions etc. You wouldn't get anybody to invest if the money was going to flow out of Tvonthe Web upstream to Ampex to do whatever. Institutions would only put in new money to finance the growth of TvontheWeb..... Also, percentage of ownership mathematically must change when a company issues new shares for sale. The only way Ampex could maintain the same percentage is if they bought New shares simultaneously with the IPO offerings. That happens occasionally,but it is usually a recapitalization, ie. turnaround, situation. That wouldn't be the case here.

To: HPilot who wrote (8609)	5/20/1999 10:51:00 PM
From: killybegs	Read Replies (1) \| Respond to of 17679

Hugh, Also, fyi, once Ampex completes exercising their majority control of TvontheWeb, the following will happen: 100% of TvontheWeb's revenues will appear as part of Ampex Holdings Total revenue; an entry called "minority interest" will appear as a line item to reflect the portion of equity held by other than Ampex. As I have before, I would encourage AXC'ers to review SFE-Safeguard Scientifics home page to get an in depth knowledge of holding company accounting etc.....