============================: THU.NOV,981105 :============================
 Ashton Tech
Ashton > 30 Institutions .   | 2.5shares % `Day  | B o China in HongKong
 encrypted to US in 3 sec | Don t change normal clearing & settlement
 arangements . don`t deal w hedge funds . small rev from Gomez .
 wholy own Sub | Pension funds . evluated avg price .
  Avg over day contract for WAP . Evaluated Avg Price | matching orders
  subject to price being set @ eoday . 9:20| pup @ 9:30| .
  Vol WeightedAvg price .
              ( +/ Vol * price ) % Vol
  Providing 1st hr avg price , Miday & last hr .
  9100 stocks | wand held wireless for those w Laptop in their pants .
  limited to fin intermediaries . Selling data to eg instanet .
  Open outcry systs survive - change rules . Rules w require everyone to
  become exchange .
 Was on NASDAQ .  Key player remains  NYSE  | 10B$ % day |
  Equity 5M , sep
   abt 1.25  | expect break even after 3mo .
   run rate  125k % mo | Gomez now 15 people . Score card demand great .
  vendors and consulting
  ( out of Forrester Res ) all under 37 . Concord Mass . Aston backed
  JulioGomez . ranks quality of internet brokerage .
  Julio ran broker side of Forrester . Intelligence gathering contacts .
  would sell .1 - .15 Gomez in IPO .
 PhilStock exchange was inovative .
|10:57| Former NYPD detective ,
   Gomez  is one of the hot
 ones . Ashton is a very interesting Company 


 AmTec ChinaTelcom company  . I`ve seen this Co before @ Equities .
|11:13| Chmn oot unavoidable |
 6 GSM cell nets in Hebei province .
 Pending xact w United Intnl Holdings , Global TeleSystems Group  .
  EQUANT , NTE international .
   geo diversity - moving into Shanghai .
 JoeWright former Pres  | McNamar Former dep Tres Sec . VChr Bank O N.England
Board : Lianng Chmn Hebei United Telecom , MichaelWilson : Canadian Minister
 MichaleLim COO :   teledensity : 1.t % penetration fast exponential
 Rev % subscriber  $450 + 340 * yr .
 Hebei surround Beijing
 NTT Intln & Itochu provided > .9 of financing
 3* growth in last q , 3000 % mo right now .
 10 yrs 700000 . 370M$  assuing only 2 providers
  rev CF project : 36 54 75 127 ; 11 17 31 66 | 99 thru 2002 |
  AmTec valuse self @ 110$ |
 Cable most popular medium : .15 penetration x 64
   1.4 x 255E3 x 4 |>| 1428000  | $ rev $ x subscribers x 4 |
   Central gove  wu to 12 chan . 4 local aproves . no external news
   Govt does want to get external world .
 Data networking . Only locals can get licenses . are combining w foreign
 expertise .  buing | 8E6 $ for GTS JV established in Shannghai .
 3.5 Rev next yr . | 5 9 12 22 | rev proj - 2002 |
|11:38| 8.8 $ cash . | book .5 % share | 27M shares out . w be issuing 15.5
 to UIH & GTS . | diluted : 55M shares |
 Amtek reported rev , EBITDA : .9 17 28 45 ; -4.2  7.4 16 30 |
 Combined rev CF | 44.5 68 95 158 ; 14.5 23 41 81 | value @ 190M
  discounted @ 20 yrs .
 Large Mkts w tremendous growth potential . Worldclass telecom & stratigic
 partners .
 Politically strong PRC partners . Prestigious Board .
  helps do things the right way .
 Focus on proven mkts w restricted competition .
  2 licenses . if after wired , politics change - in mkt w
  china more concerned abt control -
  Chinese like duopoly mode eg : coke & pepsi .
|11:49| Michael Lim runs china : 20 people , son of retired govonror of
 province | GTS more tek experienced .  JoeWright . | 14 employes in AmTec
 SEC reporting - etc . | McNamar : Ru Jung Jee - effort to regulareize
 . MOFTEK . ab | .35 payout limitatio ? | saving dealing chips w WTO .
 China understands need to accomidate foreign investment
 | 1.4B$ investment by World telecoms . Disadvantage vs major ? don`t think
  so . After NewYears w be more permanent political situation .
|11:58|
|13:1| John Westergaard : Most important result Minnesota . LBJ little girl
 atomic countdown commercial . Jessie Rodan Thinker , Venturra Commercial .
 Whole oaf american politics , a wink . Everyone winks @ everything .
 Fred Ashton Tek .
 Kortex - 2 - 20 , now back down to 2 .
 FocusEnhancements .
 Infowave wireless . PlanetCity . `96 BIOSs have problems .
 VoxCom :
 YARC : Wide format printing .
 Paulson , BobFlaherty , BobMetz . AnneStraton partner .
 WalkerWainright 2M Private Placement for WBN.com .
Kjakan Bear Award to ColletteCozean | PremierLaser PLSIA . up 1.5 today -
 Bloomberg called .
New DNA - how medium changes the message . Started in vesting in `40 when had
 `31 car . Went to work for S&P . now VWAP . LukenSteal contract for
 destroyer`s hatch covers . small cap 100 x earings . Line of chairs w ticker
 tape running along line . Shout price from 1st in line . last just keeps
 tape moving . Howie in Tangeer in `47 . mimeo US stock prices off short wave
 radio . MerrilLinch Research now free on web .
 Warrents on DaVinci Replicas . Italian bank has securitized these warrents -
 great creativity of man when it comes to $Money$ .
 Last Tuesday seminar : online trading . Wit Capial vehicle for Solamon -
 Price competition no longer working . etrade  huge money into content .
 ML hooking on content , then bring as client . Will be interesting to see
 how deal w human brokers .
 Euro London Futures exchange laying off 600 . What NYSE thinking of building
 new Behemeth w tax breaks is beyond John .
 Reuters
 How does Corp deal w this . Internet Research station - CyberStation -
 24-7 corporate info interface . into Mid & Big Cap Mkt . 20 24 30 , now 36K$
 for Cyberstn yr fee . Chinese Wall between . .25 revs into ads on eg Schwab
 $12k get 1M eyeballs .
 Ananlysts $12k per yr per company . May handle up to 10-15 Cos .
 No research overhead til have Corp signed up .
 What we do : Establish Web Presence - protect from fraud & misrepresentation
 Premier FDA innocuous ltr abt complaint handling . Poster blew oo proportion
 LarryBiggs : FTC destroyed his busness . settled for $35k , cost $4M .
 Y2000 getting 1E6 hits % wk .
 Abt Y2K : Apalling WSJ Abject failure to deal w it ( NYT  online extensive ) ,
 WSJ not recognize Y2k seasons . $100sMs being spent on it WW . Most
 important issue of times . Situation w Govt very grim . Sadam moves south in
 Jan 2000 .
 DoD has 100s of languages - eg : written TRW in `77 - StLouis processing ctr
 handles $25B . Very confident Small Cap bottom Oct 10 . Small w far out
 perform for next yr .
|13:48| |14:13| BioImaging : Convergence of Key drivers
 Mark Weinstein : Healthcare & mngt . CEO since Apr .
 `98 discontinuity of rev growth . | Mkt cap | .65 x 7.8 9.5 |>| 5.07 6.18
 West Trenton NJ . 3 busn offices , Lab & Busn in Netherlands too .
 Med image processing . Strong FDA relationship . Expidite reg review process
 Quantative Med image analysis . Manage independent review of med imaging .
 Quantatative insight . Work w ContractResearchOrgs .
 been involved in > 180 imaging trials in NA & Euro . all modalities : CT MRI
 Ultrasound Nuclear Xray .  Cardio Neuron Onco , AntiInflammatory .
 `96 decline in new clients - riding on `93,4 .
 Now 3 + 1 US Euro sales . expect tot `98 new ~ 20 .
 Diagnostics w dyes was large portion , now Therapeutics .
 Work to standardize image acquisition . Images 60M Mammogram - fedEx broad
 band width . most machines stand alone . Do have web server - can do now .
 supposedly no-destructive compression not satisfactory .
 BITI has unique relationship w FDA - guidance w regs .
 MktDemand & Drugs entering pre-clinical continiuing up .04 % yr
 combinatorial chem increasing R&R complexity .
 Global clinical trials are happening . FDA is std to which ICH & others look
 . euro - looks @ less raw data , more experts .
 Are niche CRO . growing  .25 % yr , from 4.1B to 9.2B mkt by 2002 .
 ClingtonKessler Oncology Initiative tumor shrinkage .
 Film & Calipers are gone .
 FDA stressing reproducablity being paramount .
 Are Independent Core Lab .  Shrinkwaping threshold software edited by MD .
 cros products - longest line * perpendicular .
 use validated software . Only work for production tools .
 forte : Process knowledge & audit trails . -- unsurpassed .
 Combining image sources . Large DBs no longer a problem .
 Amtureing Euro Op - Profitable this yr .
 Starting to do Trade Shows . ads in TradeJournals .
 Joint Presentations w CROs . w Expert Readers .
 Dedicated read room in SC . | Covance owns piece .
 CRO : Quintiles acqd I2 imaging - but have competed sucessfully .
 Academic Imaging labs not set up for PhaseIII .
 Computer Assisted Masked Read Sys . C++ & VB .  result : Data for Stats .
 30 - 50 cases % day . generally 2 readers . MD less tier | Dome Card multi
 screen integrated to 1 PC .
 Remote CompAssist Masked Reading Sys - project would be 160 hr % reviewer .
  so do @ home . Putting sys in Paris . 2- HiRes monitors .
 Used on Imberl aproved last wk .
[ |14:54| Everyone in Shanghai has pagers . ]
 Fin condition : BurnRate  1.25 % Q . 5M BrkEvn . Sept30 w show 1.5M loss .
 See no need for additional funds . | Current ratio  | 2 % 1 |
 Thought profitable in `98 but .34 1 cust .
  | .65 x 7.8 9.8 |>| 5.07 6.37

  
|15:1|  YARC.Systems(EBB:YARC) :
 TrevorMarshall PhD |15:10| HP 2500 large format color printer .
 Inkjet printer 600dpi image . HQ printing over networks . Provide glue
 between computer & printer . Founded `88 . Refocused `95 on printing .
  EFMT 19E6 16E6 x .5 |>| 9.5M   8M

 KxarstenJeppesen DDS , R&D software . DUS founded w Lego & Danfoss .
 Made amps for AC/DC . West Aust Academia .
 Electronics fo imaging  400M . Adobe 200 , Splash $70M .
 Canon Laser copier . becomes printer . MFgrs not have own tek to interface w
 printers . HP uses Adobe PostScript .
 PhotoShop `89 beginning of industry . `91/2 Postscript II defined .
 < 12 postscript interpreter in world . 500k lines C .
 Continuing rapid growth & change .
 YARC was working w Pipeline . MS 'TrueImage' PostScript .
 DaiNippon SCREEN - caused to focus on 3D graphics Pixar . got emmy .
 supplied them accelerator board for $690 . added Harlequin
 RasterImageProcessor - vector to raster converter 7000$ .  Sys $25K .
 Delivers PS tech . Plug & play RIP server . only 2 cos : FE
 Direct IP PPP connection to server . Net GUI or AppleShare over AppleTalk .
 All server fns can be controled by web tools . interfaced to Novell & other
 nets . Ongoing Adobe .
  Mkt EFII dominant in office /desktop .
  ADBE $150M in licensing .
  Large format is open . EFII failed in mkt .
 YARC . Adobe software degrading . Needed to drive cutter Roland Hamamatsu
 Japan . Some non- postscript . Since own core can do special things .
 IntnlColorConsortium .
  www.yarc.com/  Color tutorial .
  RasterTransverLanguage .
  Cannon 7 ppm near-photo .         178M -


|16:20|  FocusEnhancements(FCSE)  ThomasMassei \ Chmn
 Macmemory 23 - mem & accelorators for Mac . $ 1500 . for 2 meg
 500$ 1M   32 1Meg chips . | doing $8M .
 Micro when 24 . | Married ,  moved to NewEngland . `92
 Focus failed in every way could . Concept to become  Dell of Peripherals .
  maybe Kingston close . went to 18M Rev , but margins %2 .
  IPO w losses in `93 . Cash burn too big .
  Video conversion product . 3M$ 95 , 14 19 27 thru 98  expect 37-40 .
 Mixed signal to analog . 1024 768 75 frames % sec . Compaq to
 Workd w Frost & Sulivan `9801 report . TV 30 % Sec . Interlaced NTSC
 Dig - analog chip . PC-TV video . Computer ready TVs w TView SetTop Box
 4M R&D in Chip . Internet set top boxes . Cable Modems
 VoDoo VGA graphics cards  TV tuners . HDTV to NTSC converson .
 70M TVs sold % yr . 1B TVs WW . Been working on since `94 .
 w ship 200K units this yr . do flicker reduction & ImageStablization .
 MultiFreq ASIC Dig/Analog chip .
 F&D : 450k Vid scan boxes sell % yr today . Focus has .46 -( Aber Media / AI
 tek each hav .17 using 3-4 FPGAs .
 Focus has abt 95 people . R&D & dist only . Turnkey Mfg w Samsung
 OEM & License grp & Consumer ( superstore group )
  100 - 300 $ retail cost . Laptop PC- Gold Card $250 bunch for business
 presentations.
 InVideo TV-> PC .
 in 2600 resellers  except CircuitCity & BestBuy - in works 1100 outlets .
 CoMarket w Compaq .
 Core of Tek is Chip - PC-TV . Very Hi Qual Video  $15 .
 99q1 w be 10 - 6 $ in vol chip .
 Multiple patents - in house attny . Master in Physics & JD .
 Just got 2 allowed .
 Philips   PAL-M , CECAM ( same chip ) .
 Fairchild Private $800M - using scaling & filtering tek .
 PictureTel -  expect to engage w top OEMs . $4M of $27M expected .
 Just Acq Digital Image Conversion - hi-end Video Conversion . ProAudio VAR .
  reduced cost of prod from 100s $ . Improved res .
 HDTV conversion .
 1.4M$ net on 19M sales . NI exclutinc networking grew 3.66 . LG buying
 Zenith . last yr stoped 2.7M$ busn w Zenith . Generating Pos $flow .
 Reduced liabilities
  Book : 17M$ | RedChip Review Estimates from Portland OR .
  projecting 250k chip total sales .
  All time low
   1.5 x 18 |>| 27   | mkt cap | r x .25 .23  |>| 6.75 6.21  | mngt Inst |
   MPEG encoding  | Bio
   Ex Textronix guy  CTO Steve Morton ,  Box contains .   OSD chip
 Haupauge makes TV tuners . & TomHamilton - started co Chip %2 designed
  4 kids . |17:0|
  Looks @ operating Cash Flow .
  Bright guy . Knows what he`s doing . Their D&A chips push
 Samsung process tek . Drive connectors directly .