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From: root@spdyne.UUCP
Newsgroups: comp.unix.microport
Subject: Re: Microport Buyout ( was: Micropo
Message-ID: <1700021@spdyne>
Date: 13 Apr 89 21:12:00 GMT
References: <319@feedme.UUCP>
Lines: 48
Nf-ID: #R:feedme.UUCP:319:spdyne:1700021:000:1949
Nf-From: spdyne.UUCP!root    Apr 13 15:12:00 1989



In article <10317@cit-vax.Caltech.Edu> tim@cit-vax.UUCP (Timothy L. Kay) writes:
-
-You aren't seriously considering a Microport buyout, are you?  As has
-been pointed out, they really don't have that much of value, and they
-carry a pretty bad reputation.

Eric@egsner writes:
>    Yes, Microport does have a fairly bad reputation right now.
> But they also have name recognition.  Starting an entirely new software
> endevor, without a known name would be very expensive, just in terms of
> getting the name established..

    Fyi:

        Microport's Liabilities total $1,000,000.  Total Assets total
    somewhere between $500,000 and $999,000.  64% of Uport's Capital Stock
    is owned by the officers, TeleVideo Owns 20%, 16% is owned by
    employees...

    Also, As for the connection between Televideo and Uport:

        "Intercompany relations consist of stock ownership in Microport
         Systems, Inc.  There are no loans, guarantees, advances, 
         endorsements or other intercompany relations."

    [As of 3/29/89 - Dunn & Bradstreet report.]

        They have/had 50 accounts.  (Distributors/Computer manufacturers)

    They have a Branch Office in London, England. Employing 6 people as far
    as I can tell from the report.  This office, or at least overseas
    market is about 25% of their sales.

    So you see, they have other assets that might be worth something....
    However, I would think that 1M of debt would kill most of it's usefulness.
    On the other hand, One would think that you might be able to pick up the
    stock for a song right now.... If anyone wants the names or address of 
    the Attorneys or name of the CE... I have them..


If One was truly interested in a buyout, it might be best to just buy
up all the stock....It should be "worthless" if the company owes more
than it has assets.  [But then if it didn't, why would they be in Chap. 11?]

    -Chert Pellett
     chert@spdyne