edig (e.Digital ) Message Board

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Microcap & Penny Stocks : edig (e.Digital )

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Mar 20 5:00 PM EST

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To: JimC1997 who wrote (781)	4/1/2002 11:23:24 AM
From: JimC1997	Read Replies (1) of 1644

I spoke to Ran Furman today and confirmed some speculation about the status of the equity registration statement. The SEC made its comments after an extensive review and the response required approval by several partners of e.Digital's public accountants (Ernst & Young). The comments required just making some additional disclosures in the registration statement and three years of financial data. Nothing major. The process is now in the hands of the SEC reviewer. No additional comments on other subjects are likely, simply a review of the responses made by e.Digital to the previous comments. Generally any subsequent comments can be handled with a phone conference between the SEC, the company and the company's auditors. That should be complete this week. At that time the company will probably issue a press release announcing that the registration statement is effective. I stressed to Ran Furman that some investors are concerned about this issue and that the company could remove this uncertainty (and the consequent negative impact on the share price) by announcing that the registration statement had been approved. He stressed again that the equity sale would include only common stock - no warrants, preferred stock or options. Consequently, despite the misleading claims by various bashers, there will be no overhang (of future share adjustments) after the transactions take place. Business continues to grow and the new relationships with Good Guys and CompUSA are developing very well. I have a feeling that we will hear other good news in the next week or so. JimC

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