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Technology Stocks : Vari-L (VARL)
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To: Francois Lavoie who wrote (2564)12/1/2000 10:30:51 PM
From: akmike   of 2702
 
Francois-you are on the mark with your question, except it was Pete Pappas and not KPMG that announced the writedowns. We are still awaiting KPMG's statements and they should provide some clarification to that issue. The amount of the writedown became even more suspect when the revenues were announced for the nine months ending Sept. 30. There simply, isn't any way that all of the equipment could be written off that Pappas stated, and then have the same equipment provide such a good volume of shippable product.
It is time that we should hear something about a new management team, also. Or maybe Pappas et al have found a Board of Directors that they can dominate and they will just hang around collecting their fees until we run out of money. How long does it take to find management? New outside directors? It might take quite awhile if those folks being paid by the hour have overly much to say about it.
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