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Microcap & Penny Stocks : JTS- "A Nordic Drive in Every PC and laptop"
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To: tbevan who wrote (1283)9/18/1997 8:32:00 AM
From: Ben Antanaitis   of 1985
 
ALL-

Just got notified that JTS has filed an NT 10Q with the SEC as of 9/17/97. They state that they cannot complete the filing of their 10Q, based on the end of quarter 8/3/97 due to blending in of Atari numbers and compiling of Indian manufacturing site data.

The form also includes that following section, indicating that results from prior quarters may be 'restated':


(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? [X] Yes [ ] No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made:

The Registrant's operating results for the corresponding quarter in the prior fiscal year included on a pro forma basis the operating results of Atari Corporation. Moreover, during that quarter, the Registrant was a private company in the early stages of development and had only recently begun to ramp up production of its disk drive products.



Looks like it's going to be rough(er) sledding ahead.
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