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Microcap & Penny Stocks : GAUM-General Automation

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To: JB who wrote (170)	7/1/2000 11:29:35 AM
From: RoseCampion	Read Replies (1) of 183

JB says: I spoke to the company today and they are expecting to close on the PIK deal TODAY. You just love those capital letters, don't you, JB? Hey, congrats, though, on getting your CAPS LOCK key partially unstuck. <g> I assume by "the PIK deal" you mean "the agreement to sell GA's Multivalue database business to Pick Systems". And I wonder in the company you spoke to, because (according an email sent this afternoon by GA's president) that deal did not close today - there are still issues to resolve, contract signing won't happen until mid-next week at the earliest, with the whole thing actually closing at the earliest a week after that. Sorry. Also, it's my understanding GA has reached an agreement to sell its headquarters building (which they own, but which was being used to secure a large line-of-credit that was still outstanding). They're now looking for new (presumably somewhat further out of central Irvine, and therefore more cost-effective) quarters in the near future. -Rose-

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