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WORLDGATE COMM INC Message Board

  • Tel212 Tel212 Jun 27, 2008 12:12 PM Flag

    Can you point to the one moment in time when wgat died?

    During the period when iTV subscribers were beginning to grow, hal indicated that we would have 1.9 million subscribers within 2-3 years.
    At the peak, the talented team released numbers that indicated we had 1.3 million subscribers, and, we only needed to get to the 1.7-1.9 million mark to start making money.

    Upon further review, as the stock plummeted, and the iTV business was sold...it was revealed in filings that "paying subscribers" never amounted to more than 200K-400K. And even those numbers were questionable as some documents indicated it was closer to the 200K number than it was to the 400K number because of hal's decision to change to reporting numbers in RGU's rather than subscribers. A decision that allowed "revenue generating units" to be counted even when those revenues were generated for other entities. Far too late for those who "believed" to do anything about it.

    From the moment of that discovery, this company's ceo, management and their credibility began a slow death from which they have never recovered.

    Keep looking for FACTS rather than listening to the jd_liar's and rx_pumpa's, among other people in both unofficial AND official capacities.

    "212"

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    • Was any of the technology developed by Worldgate prior to Ojo (ITV etc.) used as a translating tech to develop the Ojo?

    • (dexter's/nailer's "room in the box" LOL!!)
      --------------------
      That was hillarious!

    • BTW...let me be clearer on a couple of numbers...the 1.3 million was the total RGU number...when the end came, we found out of the 1.3 million RGU's, only 200K - 400K of the 1.3 million were actual subscribers to IoTV product, while 1.1 million or 900K were IPG users.

      I remember 200K IoTV subscribers being the final number but I do recall a 400K subscriber number being thrown around as well. I can't pin it down exactly...it was quite some time ago. But either way, 900K to 1.1 million users were not represented accurately, by any means, to shareholders

      "212"

    • >>> How did WGAT get compensated for the interactive program guide they created tel? <<<

      The compensation was the initial creation/investment in the Joint Venture with the 4 MSO's...It was a sizable investment. **IF** I recall correctly, it was in the $20 million range.

      Keep in mind, the wgat IPG was a product that wgat created specifically for the MSO's to use to replace the Gemstar product which had a near monopoly on Cable's ability to provide a guide because of their array of IPG patents. Allegedly, wgat had found a means and method around all the Gemstar/TV Guide patents. There were 2 schools of thought on all of this.
      1- The JV Consortium wanted gemstar out as the "gatekeeper" of their digital offerings and was serious about using wgat's product to replace Gemstar.
      [ The trade off was, after the initial JV investment, wgat would provide their guide to the MSO's which would then open the door to the IoTV product for $10 per month

      2- The second school of thought was that the MSO's, by investing in this JV with wgat, were showing Gemstar that they were serious about moving to another product. However, many speculated that this was actually a negotiating tactic by the MSO's to get gemstar to relax their grip on what could and couldn't move through the IPG, reducing the gatekkeper effect, but keeping the best product, Gemstar, as part of the cable package. In effect, using wgat as a sacrificial lamb by getting gemstar to acquiesce to MSO demands.

      Guess who got schooled in high stakes cable politics?

      As a corollary to this story, I can recall during CC's shareholers and analysts asking hal to breakdown the RGU's number into actual subscriber/IPG users. Much the same way shareholders today requesting how many QJQ's are actually deployed. Good luck getting either of those answers.

      BTW...badstock was around during this period, maybe he can fill in some of the blanks...if he has time.

      "212"

    • Hey Tel...Up 23% today alone! To the moon!
      Just think 150 more days like this and Im almost even.

    • I'm surprised there were no shareholder lawsuits or criminal law suits tel. Was it the typical if you parse Hal's wording really closely he didn't really say they had 1.3MM subs he just intentionally mislead investors to think that was what he was saying? Or was it back channel stuff that never came out in public that he can deny?

      • 1 Reply to mylkvveed
      • >>> Was it the typical if you parse Hal's wording really closely he didn't really say they had 1.3MM subs he just intentionally mislead investors to think that was what he was saying? <<<

        No...all the CC's and the filings talked about subscribers, then, mid to late in the game, it was switched to RGU's which shareholder's were led to believe were the same as subscribers. Obviously, one would think a "revenue generating unit" was the same as a subscriber...until we found out that wasn't the case.

        Why no lawsuits? For the same reason there are no lawsuits today...the stock was 25 cents when all of the above went down...no assets, no cash, no prospects...and no dignity.

        "212"

    • excellent read 212. i can see why you changed your posture in regards to wgat and especially hal. the guy simply misrepresented significant data after you did nothing wrong but simply invest in him.

      FACTS speak for themselves and everthing you say about hal and wgat is well justifed.

      phil

    • Thank you for excellent due dilligence Tel. I wish he would have been arrested by now and this company would be led by honest individuals. These pumpers here went as far as saying it was a success when Motorola dumped the Ojo, because "they were holding the Ojo down" looool.... they said that all the way from $7 to 10 cents. Talk about no credibility.

 
WGAT
0.210.00(0.00%)Feb 18 3:44 PMEST

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