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Technology Stocks : Zitel-ZITL What's Happening
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To: Michael who wrote (18064)10/27/1999 8:49:00 PM
From: Daniel Chisholm  Read Replies (1) of 18263
 
Michael,

You could be right, ZITL bankruptcy could be much closer than I expected prior to their press release announcing their year end results. One thing I have learned though is that they (troubled companies) always take much, much longer to die than you could ever think possible -- especially since they don't have any debt with nervous creditors to pull the plug on them. It would not surprise me in the least if ZITL were to make it past 01 Jan 2001, still above the 25 cent level.

One thing though, at this point their balance sheet appears to put them in violation of the net tangible asset requirement for continued NASDAQ-NM or NASDAQ-SC listing. Action on this front might come very quickly from NASD, especially since ZITL will be soon doing their annual filings. They will probably be onto the OTC-BB by 01 Jan 2000 (wouldn't that be a rich piece of ZITL/Y2K irony? ;-)

- Daniel
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