The assembled journalists, industry personnel and opportunists heard speeches from Petro Tyschtschenko, Managing Director of Amiga Technologies and William Buck. Chief Executive of the proposed new purchasers VIScorp. In his speech Mr. Tyschtschenko praised the World of Amiga but quickly moved on the subject of the takeover, reported to be worth $ 40 million to Escom. Although he stressed that the deal was still in its early stages he suggested that Amiga Technologies had been looking at a number of options and that VIScorp was one of the best. A bargain Those who remember last year's Escom takeover may remember VIScorp representative Don Gilbraith cropping up in the proceedings. At that stage they were in negotiation to use the Amiga technology including the operating system and custom chipset as the basis for a new range of TV Internet access and on-screen shopping devices. Now, it would appear, they like the technology so much they want to buy it. In order to do so they are conducting a more thorough investigation of Amiga Technologies' current position in relation to their balance sheet, stock and research and development. Towards this end a letter of understanding has been signed between current owners Escom and VIScorp which will allow them 50 days ‘due diligence" to examine Amiga Technologies. Although the deal is considered highly likely to be signed after the due diligence period, industry figures were conjecturing that the $ 40 million price tag may change in negotiation. During his speech, Petro Tyschtshenko stated that "The company created in May 1995 only could begin with sales in mid-September. We have then sold 40 thousand A1200. 13 thousand monitors and 2000 A4000T machines worldwide until now, which is a satisfying result. As you might be aware of, Escom is currently facing a quite difficult financial situation: A bad Christmas season and inventory write offs were the main reasons for this. The fact is that Escom currently does not have the financial resources needed to support the still ongoing costs of our operation, especially advertising and research and development. To continue a successful Amiga business.