NCDR Message Board - Msg: 10400925

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Microcap & Penny Stocks : NCDR

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To: afrayem onigwecher who wrote (1298)	7/6/1999 5:25:00 PM
From: Q.	Read Replies (2) of 1440

I think we can count on seeing some restatements of the financials, after E&Y audits them. A couple of things in the news release that were new to me: Chalnick (the CFO whose previous employer as CFO went BK) spoke for the first time in this news release. The news release says that Dunavant resigned as director, and not just as president / CEO. It doesn't say that Rene Hamouth is gone, so I assume he is still a director with control of the company. They have an inside IR person, who is now named in the news release. It says that the V-band thingie is not being sold yet. This was news to me. It now says that the V-band thingie is to be released in the third quarter of 1999. I don't remember seeing that specified before. In the April 27 news release that announced the acquisition, it didn't say that the product was not yet being sold. In fact, it made the claim Founded in 1996, Satellite Access Systems has generated total revenues in excess of $1.5 million." I wonder about those purported revenues of $1.5 M. I bet they disappear when E&Y is done with auditing. biz.yahoo.com

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