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

To: Hal Campbell who wrote (8705)	5/22/1999 6:01:00 PM
From: Hal Campbell	Read Replies (1) \| Respond to of 17679

While speculating wildly (there is no way we can know)..there are alot of cash rich companies sitting around right now. Just a couple of hundreds of examples; King World Productions ( 338 million).... Disney ( 798 million )....soooo many others.

To: Hal Campbell who wrote (8705)	5/23/1999 12:41:00 AM
From: Carl R.	Read Replies (2) \| Respond to of 17679

Hal I think you misunderstand my points. I am not saying that Ampex has no money coming in, nor am I saying that they are in financial trouble. The $20 million figure I gave is a rough estimate of what they need to have on hand to operate. If they sell a DST drive, they have to pay labor before the money comes in from the buyer. Cash flows are uneven, so you have to keep some cash on hand, and $20 million is a level that should allow them to run reasonably efficiently. I am also saying that growing businesses consume more cash than they produce. If Ampex decides to stop trying to grow Micronet, it will cease to eat cash. But while they are developing new configurations and adding production capacity they are making investments in the future that require cash. Similarly Ampex is spending money on internal video operations and studios, and there is no revenue coming in yet to support them. Yes the royalty income is a cash inflow, but don't forget that the interest expense is a cash outflow. After exercising the options on the subsidiaries Ampex will be down around $40-45 million left, of which only $20-25 can be spent since the rest is needed to support operations. (As separate companies the subsidiaries will then have to manage their own cash flows, and will have no further direct impact on Ampex's cash.) This $20-25 million will slowly be consumed by the internal internet video operations and Micronet. How long it lasts we can only guess, but certainly it will last the rest of the year. I, like you, have the utmost confidence that Ampex is well aware of the cash flow situation. I have confidence that they know exactly where additional money is coming from, and when. It's just that we don't. And that is why this whole discussion got started: Not to speculate on Amepx running out of cash, but on how they were planning to raise more, whether by IPO or strategic investment. As I said, I know they have a plan, I just don't know what it is. Yet. <G> Carl

To: Hal Campbell who wrote (8705)	5/23/1999 2:09:00 PM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 17679

Very Interesting Coincidence or Not - You Decide! Hal, Dave Gardy indicated that he would attempt to set up another fireside chat in a post to TVW message board on May 15th then Ed Bramson takes a majority stake in TVW on May 18th. Very Interesting Coincidence or Not - You Decide! Posted by Dave Gardy on May 15, 1999 at 17:08:17 In Reply to: TO DAVE GARDY posted by can you please hold another fireside chat and clear up a few things for us about the last fire side chat? on May 13, 1999 at 17:16:20: Good Idea.I'll try to arrange it this week sometime. Thanks, Dave. Tuesday May 18, 9:17 am Eastern Time Company Press Release Ampex Takes Majority Interest in TV Onthe WEB Increased Investment in Leading Internet Video Provider Furthers Company's Strategy of Creating Television for the Web Best O'Luck! Tom