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Technology Stocks : METRICOM - Wireless Data Communications
MCOM 0.005200.0%Dec 3 10:24 AM EST
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To: muzosi who wrote (3349)8/2/2001 10:59:53 PM
From: 2MAR$  Read Replies (1) of 3376
 
Metricom/Ricochet-3: Delisted Effective Friday >MCOMQ

Metricom said subscribers will have access to e-mail accounts reliant on the
Ricochet network until Wednesday. "For subscription information, subscribers
should contact their Ricochet service provider," the company said.
Metricom "intends to work with its resellers and channel partners during the
transition period prior to the network's shutdown," the company said.
The company said it "will not be providing any additional comment at this
time."
Nasdaq delisted Metricom's shares, effective Friday. The stock was suspended
July 2, last trading at $1.82.
Metricom promoted its high-speed wireless Internet service aggressively for
years. The company had backing from big-name investors, including its
biggest shareholder, Vulcan Ventures, the investment firm of Microsoft Corp.
(MSFT) cofounder Paul Allen, and telecommunications provider WorldCom Inc.
(WCOM). Both investors purchased $300 million each in preferred stock in
Metricom in 1999.
The company had cumulative net losses of about $769.7 million at the end of
March, according to a company filing with securities regulators.
Metricom had only 51,200 Ricochet subscribers as of June 30.
Metricom stock had a 52-week high of $43.44 last September.
Company Web site: metricom.com

(END) DOW JONES NEWS 08-02-01
10:51 PM
*** end of story ***
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