Truth hurts pimp: "Ants Software.com Declines as Director Patton Quits Board
2/2/0 13:21 (New York)
Burlingame, California, Feb. 2 (Bloomberg) -- Ants
Software.com, which says its product can speed up computer
programs 1,000 times, fell 15 percent in midday trading after the
resignation of one of its directors.
The director, Peter Patton, was the author of a report
calling the software company's product ``a significant break-
through technology.' Patton, who joined the board in November
1998, didn't give a reason for his departure.
Ants shares were down 8 at 32 1/8 in early afternoon trading.
The shares fell as much as 14 7/8 to 25 1/4.
Patton, senior vice president of international business
development at Lawson Software, joined the company's technical
advisory board in 1987, when the company was known as Chopp
Computer Corp.
In a November press release, Ants said Patton helped the
company make its product compatible with accounting software made
by Lawson, which is based in Minneapolis. According to September
regulatory filing, Patton owned 200,000 Ants shares.
Yesterday, Ants said it successfully tested its product with
an unidentified accounting program in a private demonstration for
senior management and members of its board. The company didn't say
if the accounting software was made by Lawson.
Calls to Ants weren't returned.
--David Evans in Los Angeles (310) 827-2348" |
