Re: Delisting Notification
At the end of the recent quarter ending 3/31/97, SyQuest was once again formally notified by the NASDAQ that they might not meet the requirements to remain a listed stock.
As we know, SyQuest has received additional funds since the end of the quarter, so it appears they most likely will have dodged the bullet again.
However, with their shares maxed out and more losses forecasted, one has to wonder how many more times they skate by.
Just to give you an example of what's been happening recently: On 4/15/97, Syquest arranged a deal with Jardine Matheson & Co., Limited to exchange stock in order to cancel their outstanding debt of well over a million dollars. What I found interesting is that this was all for invoices dated prior to prior to August 22 of last year.
No wonder these folks are taking stock instead of cash, ...they haven't been paid in ages, ...hardly the show of support that Syquest management would have you believe is taking place.
Regards - Dale |
