General Magic Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : General Magic

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: lilbully who wrote (10054)	9/18/2002 9:17:57 AM
From: stan_hughes	Read Replies (1) of 10081

General Magic to Discontinue Operations Wednesday September 18, 9:03 am ET SUNNYVALE, Calif. (Reuters) - General Magic Inc. (NasdaqSC:GMGC - News), which sells voice application software and services, on Wednesday said it will discontinue operations effective at the close of business on Wednesday after it was unable to obtain additional financing or complete a merger or acquisition. General Magic said most of its employees will leave immediately, but a small team will be retained for 60 days to 120 days to manage the sale of its assets and resolve obligations to its creditors. The proceeds from the sale of its assets will be used to pay its creditors. The company does not expect to have assets remaining for distribution to common and preferred stockholders. Shares of General Magic closed at 25 cents on Tuesday. biz.yahoo.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next