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Technology Stocks : Fonix:Voice Recognition Product (FONX)
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To: Randall E Westberg who wrote (3236)6/19/2002 9:02:00 AM
From: pgl52  Read Replies (1) of 3347
 
Yes, I saw this. According to Siliconinvestor financial reports on fonix, insiders hold about 10 million shares. This is about $600,000 which isn't enough to cover the monthly burn rate. So although this looks like a sweetheart deal for Dudley and Murdock, it really exposes them to losing their interest if the company isn't bailed out by some revenue in the very immediate future. Perhaps they are covering some payroll right now and hope for a deal soon. I guess, they could be covering expences in the short term awaiting the 300 million more shares to sell. 300 million more shares would still not cover a year's worth of burn at current share price. It is possible, tho unlikely, that Dudley and Murdock will go down with the ship. Fonix never fails to disappoint so I just keep and eye on this and see what comes of it.
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