  We describe an equivalent circuit model applicable to a wide variety of
magnetoelectric phenomena and use SPICE simulations to benchmark this model
against experimental data. We use this model to suggest a different mode of
operation where the "1" and "0'" states are not represented by states with net
magnetization (like $m_x$, $m_y$ or $m_z$) but by different easy axes,
quantitatively described by ($m_x^2 - m_y^2$) which switches from "0" to "1"
through the write voltage. This change is directly detected as a read signal
through the inverse effect. The use of ($m_x^2 - m_y^2$) to represent a bit is
a radical departure from the standard convention of using the magnetization
($m$) to represent information. We then show how the equivalent circuit can be
used to build a device exhibiting tunable randomness and suggest possibilities
for extending it to non-volatile memory with read and write capabilities,
without the use of external magnetic fields or magnetic tunnel junctions.
