General Magic (fka GMGC)

[xxrayeyes]

If the financing were done today, the result would be about 35M more common shares. That is $7M divided by (.20), which is a 20% discount on (.25). I'm not sure how I feel about that, especially when they are going to need more financing in the future. But the company seems bullish in their statement of waiting for more favorable market conditions. I was a shareholder way back. Bought in at 6.59 and sold around 16.00 at the peak of the big bull. I have watched this stock for a long time now but I must say that I am not yet convinced enough to buy back in on a fundamental basis, although technically speaking, it seems to be trying to bottom. I'm still not sure how GMGC is going to recognize revenue and have no idea what type of revenue potential exists. If anyone can clear this up, I'd be very grateful, meanwhile, I think I am going to look at some recent press and filings and see how the company is looking.

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