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SPIN

11/14/03 11:16 AM

#18337 RE: go-kitesurf #18320

edit: "I want to 'hear' the tone of what's happening in the voices of Wave management."

uhhh, GKS, no you don't!

the 2 most valuable things in a Wave buyout are:

1) $260Mil in losses that could offset other income

2) IP

howiever, w/TCG's RAND licensing, that only leaves the first item.

why would anyone pay $300Mil to buy $260Mil of losses & pay $40Mil for something that can be licensed under RAND terms?!?

AND a buyout would probably include a FAT payday for mgmt -- i doubt anyone would want to inherit the enterprise & all of its trappings.

SO, Snack... was dumping in AH a "big mistake"?!?

$95 in product income?!? i had to re-read that b/c most filings drop 3 digits & stipulate "results in thousands of dollars."

nope.

ninety-five dollars.

BTW, is NSM shipping yet?

edit: eamonn -- no, of course not. but does the math make sense for a $300Mil buyout?

Snack -- you are correct, the day ain't over... it will get worse.

fall in-to the gap.