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   Technology StocksMetaCreations (MCRE) - Detailed Goo in a Soapy Dream


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To: jean who wrote (36)6/16/1997 8:07:00 PM
From: Patrice Gigahurtz
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Jury's out (I guess) 'till 2nd qtr earnings.

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To: jean who wrote (36)6/17/1997 11:55:00 AM
From: earthling
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They have the talent and the opportunity is very large. I see MetaCreations positioned to be a mini-Adobe, positioned more around graphics and less around type, with $150 - $200 million in revenues within the next 2-4 years. Talent attracts talent, and if I were a young engineer I would LOVE to work at this company. Right now there's a lot of "noise" that obscures the potential of the stock, mainly the slide of Apple and the merger itself. It's a classic example of a stock that cannot be judged by finances at this point--only those who understand the graphics market can feel comfortable. In a year or two, after the financial results of the merged company are demonstrated, the market may overvalue the stock. At this point I think it is undervalued relative to the growth potential versus the risk.

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To: earthling who wrote (38)6/17/1997 12:49:00 PM
From: Pete Mason
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Earthling,

I think you're absolutely correct. I have what I consider to be a very large position in this company for the following reasons:

1) MetaTools & Fractal have now cornered the market in the kinds of products they offer (natural media & cool wacked-out graphics effects). No one else has much of anything in this area; and it is a very appealing area for graphic artists.

2) They show signs of having an actual 3D strategy. I don't understand the 3D world; lots of confusing apps with microscopic market shares and debatable profits. But MCRE seems to have some kind of focus and understanding of this market, and it remains one of their more interesting irons in the fire.

3) I don't believe they have made the headway in international markets yet that they are able to. The combinations of the two companies should lead to big increases in international markets. This is a big potential upside to the company.

4) If they show signs of making real money, somebody could easily be persuaded to buy them both for the products they have and for their talent base.

5) MetaTools stock historically hovered in the high teens to mid twenties, and when it did so the company was a lot less interesting than it is right now (in fact, I was a frequent shorter of the stock at those levels).

6) Their products (and people like Kai) are great to demo, and a kick-butt demo of their cooler products to the right people (i.e. your typical gullible stock analyst who's never seen a graphics app) could send the stock soaring like it did a year and a half ago (up to about 41 on no particular news).

7) The graphics market is still consolidating, and this company will wind up being one of the winners (if it isn't eventually bought as consolidation continues).

8) And I really, really, really hope it goes up!

My two cents,

-- Pete

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To: Pete Mason who wrote (39)6/17/1997 1:57:00 PM
From: Patrice Gigahurtz
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Pete, "...on no particluar news".

MTLS quick ride to $41ish was due largely to strong reception of Goooo

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To: earthling who wrote (38)6/17/1997 3:34:00 PM
From: jean
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Earthling, Pete et al... Thanks for the positive assessments. I concur totally with what you're saying and suppose the whining I do is a response to frustration. From my point of view, this is a company too little in the news, especially in view of not only the creative but the very practical applications of its technology. I know the Apple situation impacts negatively, but this is a case of too much impact IMO. Guess we'll all have to be patient a little longer and hope for a good earnings report to get the price moving. Jean

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To: jean who wrote (41)6/17/1997 6:15:00 PM
From: jean
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MCRE...Did everyone see this? Jean

FTG Announces Three Bundling Agreements: FTG Data Systems chose PC Expo today to formally announce
bundling agreements, with Advanced Recognition Technologies (ART), MetaCreations, and the publishers of
LView Pro. - Jun 16 9:33 PM EDT

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To: Patrice Gigahurtz who wrote (40)6/17/1997 6:59:00 PM
From: Pete Mason
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>> MTLS quick ride to $41ish was due largely to strong reception of Goooo <<

Quite right, Patrice... what I meant to say on that is that a prerelease version was shown to (presumably) gullible analysts who were amazed at all the neat graphics stuff in Goooo, and the stock went soaring without an actual product shipping or being close to shipping.

I strongly suspect that the same scenario will happen again, as one of their good demo people shows one of their flashy new products to influential yet graphically naive analysts (like there's any other kind), and we could have the stock soaring again without having to bother shipping the product and proving it's merit...

-- Pete

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To: Pete Mason who wrote (43)6/17/1997 8:57:00 PM
From: EdR
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[PC Expo - Observations]

All -

I attended the PC Expo today at the Javits in NYC. I don't own any stock yet have been seriously considering the possibility. Don't forget that these are only my observations. Their exhibit booth was a powerful statement of their presence and it was one of the exhibits that attracted large crowds. They demo'ed their products in a clear way and conducted lots of retail sales at 'show special' prices, right there at the booth. Lots of people walking away with software. They were taking orders for 'Painter 5 @ $299. The people demo ing the software really new what they were doing. Hope this helps....

Ed...

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To: jean who wrote (42)6/17/1997 10:55:00 PM
From: beenay25
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It makes sense for FTG to enter into an agreement with ART. FTG makes light pens for scientific and retail applications. ART makes voice and handwriting software (it really works... I was the first US based company to license it two years ago).

Now for the question of the hour... what does MCRE do for light pens??? I would like to understand more here... my old boss is ART's executive vice president... good guy... I think call him up.

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To: EdR who wrote (44)6/18/1997 6:10:00 PM
From: Patrice Gigahurtz
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Thanks Ed. Did you meet Kai or anyone ?

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