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Technology Stocks : CyberCash a buy?
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To: Jon Kirk who started this subject3/7/2001 7:04:10 AM
From: cicak  Read Replies (1) of 3990
 
Frankly, the whole situation has me steaming. Here I thought CyberCash was on the verge of profitability and then POOF. For learning purposes, did anyone else anticipate bankruptcy in the beginning of March ? What about the presentation to analysts announced by PR ? I can't even find that PR on CyberCash website anymore.

Anyways, live and learn - but were there any strong warning signals that were sent that I missed ? If CyberCash is able to continue offering services to clients (while in bankruptcy) by selling assets to its former proposed merger partner - weren't there other options out there more favorable to shareholders ?
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cybercash.com

The Network 1 merger was the culmination of months of hard work and was key to our getting profitable. Unfortunately, the financial markets have dried up and we have been held up just short of the finish line, without the funds to close and execute the plan. We are making this move now to ensure that CyberCash’s obligations can be satisfied and to maximize any residual value for the company’s stockholders.”

Mr. Lynch continued, “Operationally, CyberCash has sufficient funds to continue to operate and merchants processing transactions through CyberCash’s Internet payment service will experience no interruptions. All of CyberCash’s sales and customer support functions will continue as usual.”
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