Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Jacques Chitte who wrote (18024)	8/13/1999 10:52:00 AM
From: Marconi	of 18263

Hello LRL: I noticed Zitel is on step 3 of their 7 step program to become y2k compliant. Seems odd to the point of hypocrisy for a company so shrill in the past two years to be one of the laggards at the compliance. Still with the prospect of being bankrupt before A.D. 2000, I suppose it would not make sense to put money into such an effort. There have been many more ways to mismanage money and the company, and Zitel management seems to have practiced them consistently . I am waiting for the balance sheet and (income) statement to see what their cash position looks like. Seems like cash on hand is still the best approximate value of the firm--less than 25 cents per share. Ido not join the expressed management optimism Zitel has cash for 12 months forward. First they would have to discover a vastly shrunken residual entity that could operate as a going concern. Probably with a market cap of well under $5M. Best regards, m

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