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Falsifying of Press Releases....
The whole issue of a poster being able to falsify Press Releases of WLGS to give the impression that WLGS is a subsidiary of WWWN is clearly criminal, in my mind, and that is what the poster DavidChang of Raging Bull has done.
Although fired up over this issue, I took some time to read the original posting on the WWWN board and the followup postings afterwards, particularly those of one Tom Rotert who is posting on that board.
I thought you might want to see what I posted after reading up on the most current comments on that WWWN board......
COMMENTS WELCOME!
http://ragingbull.lycos.com/mboard/boards.cgi?board=WWWN&read=1965
Daytona, I enjoyed it, too!
It was suggested that we announce a set time in order to get more investors there, so next Sunday Night let's all meet there at 8 P.M. EST.
It was interesting that at least five of us were chatting at the same time, and hopefully next week there will be more.
The roast was excellent, and I'm turning what's left of it into a huge pot of Beef Stew!
Hoping for another lively LIVE Chat today.....
http://www.talkcity.com/webtv/join.htmpl?channel=wlgs
Stirring up a HORNET'S NEST??
At this point, who the F*** cares!
LOL!
http://post.messages.yahoo.com/bbs?.mm=FN&action=m&board=1600465569&tid=go&sid=16004...
Hi gang!
Since it appears that the Raging Bull site is down all weekend, it looks as though this is the place to post for now (not that THAT bothers ME! :) )
That little interconfliguration (like that word?) between XEL and PAYWOLF today on the RB board was fun. I hope that XEL takes the time to do the necessary DD and begin posting his Research Abilities, as Paywolf suggests his capabilities!
Today's India news has an alarming calming effect, in my mind. In spite of all the recent strugglings of the past year and beyond, I feel that we finally have a solid future in this investment.
My personal DD has shown me that India is very NET SAVVY, far beyond the current Latin American Market. Don't get me wrong, I am very happy with the results so far in Peru, and I hold great hope for strong revenues there in the future, but MAN, .....
INDIA!
Over 1,000,000,000 people.
Over 4 times the population of the United States!
Highly Democratic!
Rapidly developing into a top Global Economy!
It is important to UNDERSTAND the dynamics here. The Indian Government CLEARLY wants to divest itself (as much as 'comfortably' possible) of having it's own 'monopoly' on telecommunications.
Honestly, I did NOT expect to see today's News Release this quickly, but VERY GLAD that I was wrong.
VERY GLAD!
VERY GLAD, INDEED!
I'd like to remind you all that I have created a NEW CHAT BOARD for WLGS Longs at http://www.talkcity.com/
Sunday and Monday is officially declared an ALL CHAT day about WLGS And Our Incredible Future Together Days at the Chat Room called WLGS at TalkCity.com (There is a direct link to the new chat room in the iBOX which is directly above the Message List on this Board. If you cannot 'see the link' you may have your iBOX turned OFF. If so, simply click on Show iBOX to get the direct link.
See ya all there Sunday and Monday!
We have MUCH to discuss!
Great news today for WLGS!
For more info and background please visit the iBOX for WLGS here at investorshub.com or the WLGS Website at http://worldwide-wireless.com/
OAKLAND, Calif., Feb 16, 2001 (BUSINESS WIRE) -- World Wide Wireless
Communications, Inc. (OTCBB:WLGS) announced today the government of India has
issued a Decision to Grant a Wireless/Telegraph License ("Decision") to its
subsidiary, World Wide Wireless (India) Ltd. ("WWWI"). The frequency licenses
covered by the Decision will be to provide fixed high-speed wireless Internet
service in nine of the most important cities in that country. Under the terms of
the Decision, which is contingent upon compliance by WWWI with a series of
specified preconditions, WWWI will be able to provide its service in Mumbai
(Bombay), New Delhi, Ludhiana, Calcutta, Ahmedabad, Hyderabad, Bangalore, Pune,
and Chennai (Madras). The population of the nine cities is more than 45,000,000
and includes most of the major business, financial, technical, and political
centers of the country. WWWI, which currently holds an ISP license for five of
the nine cities, will be applying for a nationwide ISP license in order to
provide service on all the frequencies granted.
The preconditions for the issuance of an operating license for the frequencies
described in the Decision include securing site clearance for transmitting its
frequencies, acquiring equipment licensed by the government, paying licensing
fees, among others. Neither WLGS nor WWWI anticipates significant difficulty in
complying with the preconditions.
WWWI, which is an Indian corporation owned jointly by WLGS and Mr. Neelam Oswal,
of Ludhiana, India, was formed in mid-2000. Since that time, and in anticipation
of the granting of frequency licenses, it has put together a staff of technical,
legal, marketing and sales experts under the direction of Mr. Oswal. Mr. Oswal
is the chairman and managing director of Punjab Wool Combers, Limited. Managing
the operations of WWWI from its central office in New Delhi is Mr. A. K.
Chaudhri. Mr. Chaudhri was the chairman of Mahanagar Telephone Nigam Limited and
was later the managing director of Koshika Telecommunications before joining
WWWI.
"After months of efforts, it is indeed satisfying that we have come to this
significant point in our planned commencement of operations in India," commented
Douglas Haffer, president and chief executive officer of WLGS. "Although the
deployment of our high speed wireless system in India will be an undeniable
challenge, the country, with its huge and highly computer-literate population,
offers remarkable potential for rapid revenue growth and market penetration," he
added.
Until recently, slow deregulation had limited competition in the Indian ISP
market. However, the Indian government has now made it clear that it considers
improved Internet access, for educational and commercial purposes, a top
priority and has facilitated its increasingly rapid development in the country.
A growing national fiber-optic network, which has been an important aspect of
the nation's developing telecommunications infrastructure, will assist WWWI in
securing sufficient national and international backbone bandwidth to permit the
optimum operation of its high speed system.
"In our contacts with the Indian government we have noted a consistently high
level of commitment by officials to enabling the development of a high speed
wireless system," Haffer stated. "The government's expeditious review and
issuance of the Decision, and its on-going cooperative approach to WWWI's
project and proposals, should serve as a positive model for other governments
who have been less accommodating in these matters," he concluded.
In order to deploy the system in the nine cities included in the Decision, WLGS
and WWWI will seek additional funding. "We hope that the enormous potential that
India offers will assist us in securing the necessary financial support,"
commented Haffer.
WLGS currently operates, through its wholly owned subsidiary Digital Way, S.A.,
a two-way wireless high-speed Internet system in Lima, Peru. It is awaiting FCC
approval for two-way operational authority in over half-dozen locations in the
United States. Through its subsidiary, World Wide Wireless (Thailand), Ltd it
controls MMDS licenses in Bangkok and other cities in Thailand. Furthermore, it
is awaiting a decision on reinstatement of MMDS licenses to its subsidiary
Infotel in Argentina.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays beyond
the company's control, delays in development and testing of products, and
fluctuations in demand for the products and services of the Company
CONTACT: World Wide Wireless Communications, Inc., Oakland
Douglas P. Haffer, 510/839-610
www.worldwide-wireless.com
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: CALIFORNIA INDIA PERU THAILAND ARGENTINA INTERNATIONAL
INDUSTRY KEYWORD: INTERNET
TELECOMMUNICATIONS
GOVERNMENT
NETWORKING
PRODUCT
Dignity in Internet LAYOFFS!
From the Motley Fool Board! KUDOS to David and Tom Gartner for such a quality posting on FOOL.COM....
Letter to the Community
Fool Restructuring
Email this pageFormat for printing
February 9, 2001
As many of you know by now, yesterday was one of the most difficult days in Motley Fool history. We said a teary goodbye to 115 people who had poured their hearts into our business, some for more than five years. You have benefited directly or indirectly from every one of their efforts, as have we, and that demands our gratitude. Unfortunately, in the present business environment, we were simply unable to continue supporting so large a workforce.
Let's talk about that business environment. Given that The Motley Fool is more popular today than ever before, serving upwards of 25 million people last month via our multimedia efforts, you might be wondering why the heck we would let so many Fool employees go?! The truth is, we've seen a primary revenue source of our business -- advertising on our free website -- weaken significantly over the past 12 months. When you stake a significant portion of your company's business model on getting a "yes" from the advertising department over at First Federal, and First Federal decides to halve its ad spend in anticipation of a recession, it hurts your business. Of course, it's particularly ironic when that happens in the face of your own rocketing customer growth numbers, but there it is. For the short term, anyway.
The bigger picture reveals that December featured the highest numbers of corporate layoffs in U.S. history. And January actually exceeded that! We had hoped to be immune to this nasty business cycle but, regrettably, discovered along with so many American corporations that we are not. Consequently, as part of an important restructuring and refocusing of our business, we reduced our staff.
We read a few grumblings from community members who felt a message like this might be a day late in coming. "Why did we have to read about it in the press, rather than in Fooldom?" they ask. We hope everyone can understand that our efforts yesterday were focused respectfully on the immediate needs of our employees -- those who were departing, but also and importantly, the 250 or so who remain. We are certainly appreciative of your interest in our company -- in our failures as well as our successes -- and are pleased to share our perspective with you the day after.
Let us assure you that the only solace we can take in letting so many good people go is that good people are just that, GOOD, and goodness wins in life! If the number of incoming calls is any indicator, we are confident that our former employees will quickly get gobbled up by other companies who value their talents and their Motley Fool experience.
Alas! As many good people as we let go, many more remain. And as difficult as the past 24 hours have been, it's 24 hours in a much longer history of a business built to last. To those who have left, we thank you again for your wonderful contributions. Let us paraphrase the poet Stephen Spender: "Born of the sun, you traveled a short while towards the sun, and left the vivid air (our vivid air) signed with your honor." And to all those who remain, we will continue pouring our hearts into a business that we love, into a mission that privileges us with the opportunity to serve millions, in order that our redoubled efforts might honor the efforts of those we've left behind. Folly forever.
--David and Tom Gardner
VERY IMPORTANT! ChairMail Members....check your ChairMail PLEASE!
Thanks,
Dave
Meme, regarding WLGS? Shareholder's Meeting is March 1st. Annual Filing is due out tomorrow. I think you have the rest of this week to do DD and focus in on the potential.
Watch closely, many things happening 'behind the scenes'. Argentina License Renewal Annoucement this week would be a HUGE PLUS!
And so we sit? No new info?
Have you checked out your iBOX lately here at WLGS?
There is a NEW LINK to an ALL NEW Chatroom there!
If you can't read the links in the iBOX it is because you sometime chose to Close the iBOX! That's OK, as I know it can be cumbersome to scroll through all the links to get to the Message List here.
To keep abreast of new link additions to the WLGS iBOX, either LEAVE the iBOX open, or occasionally click on the link that says "SHOW iBOX!" I try my best to keep it pertinent and updated.
dpb5
Billvb...as a humorous 'aside'....
Was the snowboard named "GO.COM"???
Damn, Bill, that HAS to hurt!
Get your hands on some of that nifty voice ativated software. Since you can't type efficiently I bet you would have it figured it out in no time, since it's probably much less painful to get it to work right than typing one handed!
Now, if you DO get Voice Type to work properly, I'll bet you have lot's to say to us.
In any event, take care and try to type a symbol or two now and then!
Godspeed,
Dave
Bigdrag, regarding the meeting....
WJJewells forwarded this message to me tonight from Adam Holdridge at WLGS....
As you know, the meeting is going to be held on March 1st, 2001 at 10am. The location is in Oakland, CA near our office. Please refer to your proxy statement for the exact address.
If you require assistance with flight,hotel,car reservations, please contact Leslie Masler or Peggy Carpenter at Travel Service Montclaire
(510) 339-4484.
They are both aware of our meeting and work with WLGS for our travel needs.
Thank you,
Adam Holdridge
WLGS
Chas, you are correct. Bondholders are limited to no more than 10% ownership of the company.
billbv, if NOT WebTV, then perhaps....
Bill, I am not invested in MSFT, just an avid WebTV fan.
Tonight I 'tripped across' a competitor. At least perhaps a future competitor?
Cool website....check it out......
http://www.fuze3.com/
It's a shame the airfare and hotel rates can't be discounted as deeply as WLGS's share price, eh?
;)
What are the chances? re:Warren Buffet!
Is it at all possible that THIS is what caused Mr. Eisner to not have the necessary focus for DIG?
More importantly, now that the Street is saying good things of late about Disney, how would/could we possibly know if Mr. Buffet is buying DISNEY in huge quantities again?
And MOST IMPORTANTLY, how can Mr. Buffet get away with this massive selloff without having to report to the SEC?
Comments welcomed!
----------
WIRE: 02/09/2001 1:05 am ET
SEC filings show Buffett cut Disney, Nucor stakes
NEW YORK (AP) Billionaire investor Warren Buffett slashed his holding company's stake in Walt Disney Co. by 80 percent in late 1999 and early 2000, according to filings with federal regulators that Buffett wanted to keep secret.
Buffett also reduced Berkshire Hathway Inc.'s position in steelmaker Nucor Corp. by 62 percent during the same period, according to filings with the Securities and Exchange Commission released Thursday.
The filings were made public after the SEC refused to allow Buffett to use a procedure he routinely employed in the past to delay disclosure of Berkshire holdings.
"From his point of view, he is a master investor taking huge positions and he doesn't want people to know his positions," said Andy Kilpatrick, a a Prudential Securities stockbroker from Birmingham, Ala., and author of the book, "Of Permanent Value: The Story of Warren Buffett."
Berkshire previously held almost 20 million shares of Disney, the world's No. 2 media company, but sold 7.8 million shares during the fourth quarter of 1999 and an additional 8.2 million shares in the first quarter of 2000.
That left the Omaha, Neb., company with 3.9 million Disney shares as of March 31, 2000.
Berkshire sold 1.7 million shares of Nucor, one of the largest U.S. steelmakers, during the last three months of 1999. Another 423,000 Nucor shares were sold by Berkshire during the first three months of 2000.
Berkshire still owned 1.2 million shares of Nucor as of March 31, 2000.
All money managers with holdings of $100 million or more are required to file quarterly reports with the commission that disclose the contents of their portfolios.
Those reports can only be kept confidential if the managers can prove to the SEC that disclosure would cause financial damage.
In the past, Buffett often used the exception to prevent people who did not invest in Berkshire Hathaway from mimicking his investment strategy, said Kilpatrick.
Berkshire shareholders were also kept in the dark. Kilpatrick said Buffett later made the information public when he released Berkshire's annual report.
"He has certainly used this rule to not disclose for decades," Kilpatrick said. "Now the SEC is saying you haven't proved to us that this is going to be a problem for you."
The SEC's investment management division last August refused Berkshire's request to keep the two filings secret. Berkshire appealed, but his request was denied.
Still pending before the SEC are requests by Berkshire to keep secret portions of its holdings reports for the quarters that ended in June and September of 2000.
Berkshire Hathaway did not immediately return a call seeking comment late Thursday. Buffett is renowned for his reluctance to speak to the media, and his assistant declined comment last week on the SEC filings.
Disney shares rose $1.13 to $32.13 on Thursday, shares of Nucor rose 10 cents to $42.99 and Berkshire Hathaway shares rose $1,500 to $69,400. All are listed on the New York Stock Exchange.
Crookk, thanks. Will do!
Toolmaker2 ...thanks for that!
I often wonder if other posters have the troubles we have been discussing and that that is the potential reason we don't see more posts here.
I hope that isn't the case, and I also hope that the longterm investors in WLGS will take a moment or two to post their thoughts on this board about the future of WLGS!
I know it's EASY to stay STUCK on a board that you have been so 'used' to reading, but my hope is to get all the sensible posters, those unbiased in their thoughts to post here, away from the BASHING on the WLGS Board, the WIRL Board, and the like.
Hey now, wait just a minute Blair! Your post had more than just the ONE LINK when I began reading it just a tad few minutes ago. Didn't it? Didn't it have like FOUR LINKS, or so?
dpb5
"Once the mind goes....."
Toolmaker, are we going to make it until March?
To answer that question let us put ourselves into the shoes of the WLGS Employee. If I were an employee knowing that there was a shareholders' meeting in a little over 3 weeks that would authorize additional company shares to have access to $50 Million in financing, an employee stock option plan, ratification of a telecommunications guru to the boards, and ratification of a nationally recognized financial person to the board I wouldn't even flinch if Mr. Haffer said, "Sorry, you're paycheck may be two weeks late." However, this .125 bridge financing appears to me to show the ethical standards about WLGS that we are dealing with. I don't personally think the filing was necessary, but by the same token, in light of the upcoming $50M funding, it's peanuts, imho.
Gary202, regarding slowness of retrieving messages here....
Although iHUB isn't one of the fastest servers in the world right now, the iHUB Admin Matt Brown is aware of the slowness and has assured me that we will soon be on larger servers that can handle twice the traffic of Raging Bull!!!
Gary202, although I do believe that all articles will pass just based upon the shares held by directors and unit investors etc., I think it wise and prudent to take the time to send in your proxy vote just to make sure.
Acaac, your proxy should come to you from your broker and they are not scheduled to be mailed until Feb. 15.
Bigdrag, your concern is not at all true....
The tripling of O/S shares will not AT ALL effect the selling price of WLGS.
All the approval of the additional "authorized shares" will do is to allow the company to use these additional shares as deemed necessary by the Board of Directors for future Business Dealings, i.e. Spectrum Acquistion, Joint Ventures, Mergers, and the like.
Prior to the meeting....
100,000,000 authorized shares
90,000,000 (roughly) outstanding shares
24,000,000 (roughly) shares in 'float' (tradable)
If approved, here will be the new statistics the date of the meeting....
300,000,000 authorized shares
90,000,000 (roughly) outstanding shares
24,000,000 (roughly) shares in 'float' (tradable)
Hope this helps!
Regarding WLGS Employee Stock Option Proposal and potential comments regarding dilution....
It is commonly known that ESOPS's have the potential of diluting stock value for common shareholders.
Watch for the bashers to bring this up.
WLGS is proposing 7,500,000 shares for an ESOP.
That is 7.5% of the CURRENT O/S shares. If the 300,000,000 shares are approved, the so called "overhang" will become 2.5% of O/S shares.
As the attached article explains, any ESOP plan that is less that 10% of the total O/S shares of stock is not a bad plan and not significantly dilutive to the common shareholders....
http://www.fed.org/onlinemag/dec97/brumberg.html
Highlights of the SEC PRE 14A...
(with MY commentary)
1. Election of Directors
*The Board is soliciting the addition of Andy Reckles who is associated with Union Atlantic. Although WLGS has had prior 'difficulties' in dealing with the terms of the convertible debentures, it is my feeling that this is not a reflection upon the abilities of Mr. Reckles to perform on the WLGS Board of Directors. His credentials are quite impressive.
My vote......YES.
2. Appt. of Reuben E. Price as Independent Public Accountants
*This issue is of little signifigance in my humble opinion since most Public Accountants have the utmost scrutiny under law. I do hope that Reuben E. Price is able to break down revenues of all the operating divisions in the future.
My vote......YES.
3. Increase of Authorized Shares to 300,000,000.
*As reported by me numerous times before, this is vitally necessary in order for WLGS to proceed as a going concern. This increase will NOT cause a rapid dilution in shareholder value, as is already being discussed on other boards. WLGS must have shares available to negotiate the Business Plan for the next five years. It is extremely important for all shareholders to recognize that if this motion is not approved, WLGS will not only be in default with the Unit Investors, in addition.....
....We will not have access to the $50,000,000 funding if shares are not available for sale.
....We will not have shares available for any potential future STOCK SPLITS.
....Mr. Sonny Rath may choose to not serve on the board unless we approve these additional shares and acquire full access to the $50,000,000 funding.
My vote......YES.
4. Creation of 10,000,000 shares of Preferred Stock
*IMHO, this is the threshold of what will make WLGS a formidable company in the investment world. With Preferred Stock Certificates, funding potentially can come from much higher levels.
My vote......YES.
5. Approval of Employee Stock Option Plan
*The company proposes issuance of 7,500,000 shares for ESOP. Keep in mind that this can only happen if we approve the increase to 300,000,000 outstanding years. As I have commented before, there is nothing more vital to having the employees of a company increase their efforts toward profibility and personal future wealth than through a stock ownership plan.
My vote......YES.
MOST INTERESTING POINT ABOUT THE FILING FOLLOWS...
Most proxies that I have been involved with state the articles of the meeting and the intention of the Board of Directors. This proxy is the same in that respect and the BOD urges a Yes Vote for all above matters. HOWEVER, usually it is deemed that if an investor does not vote their proxy that it means that the BOD will assume that the investor is in agreement. This is not the case here. The proxy states that any 'non votes' will be determined to be AGAINST all articles. THEREFORE I CANNOT STRESS ENOUGH the importance of excerising your proxy and submitting it if you too wish to vote YES on the above proposals, otherwise, well......
WLGS is not alone....
Today Exodus announced sale of additional shares and debt financing.....
http://ragingbull.lycos.com/news/news.cgi?articleid=REUT68099l
Shareholder Meeting Date Clarified...
Mr. Haffer emailed a reply to me about the date and place of the SH Meeting...
*Meeting Mar. 1 10 AM in Oakland.
*SEC has the proxy
*WLGS is required to submit it to them first
*They (the SEC) have ten days to respond.
Damien, I see you made it aboard! Congrats!
For anyone having problems posting here.
In order to post on this board, you need to LogIn first.
If you use the cookie, you will then be logged in at all visits.
NEW! Solar Powered Batteries!!!
This increases the potential of the development of WLGS's DWCP Patent Technology.
Thanks, McNic!
http://ragingbull.lycos.com/mboard/boards.cgi?board=CLB00030&read=1875
storming,
You can't really "check" your chairmail until you sign up to receive it.
ChairMail is a neat feature here at IHUB. It allows the Chairman of This Board to email interested subscribers as a group.
To join ChairMail, simply go the blue box at the top of the message list and click on JOIN CHAIRMAIL.
If you'd like, let me know, and I can send you the archived version of the ChairMail that I sent last night.
billvb...a tiny sidenote...
WEBTV WILL be the answer, someday! IMHO!
dpb5
I must AGREE billbv! Clearly Meme HAS endured the brunt of the 'cyberpain' here.
SayZero mentioned me in his post as well, but I read it as "water off a duck's back!"
I suspect that Meme did, as well.
Life goes on.
Long live the INTERNET!
WLGS Longs...
Please check your ChairMail for a very timely update!
Rollin, is the Innovators Dilemma a Financial Book?
Do you know the authors' name please?
My first buy was at 3.09 LeFoux. EOM.