Didn't look very good. The following is from the Edgar filing. Sounds like this company is history. However, if something has changed, please let me know. Thanks.
As of December 26, 1996 Blue Chip Computerware, Inc. ("Blue Chip")(OTC
Bulletin Board Symbol: BCHP), operating through its wholly-owned subsidiary,
KoolGlo Industries, Inc. ("KoolGlo"), has ceased operations. Over the last
several months, KoolGlo has received virtually no revenues from sales of its
product line. In addition, KoolGlo is not able to pay its landlord for rents
owed and anticipates closing and moving out of its office space in January,1997.
Due to KoolGlo's inability to pay its factor, Allstate Financial
Corporation ("Allstate"), for amounts due to Allstate for providing inventory
financing, Allstate has foreclosed on KoolGlo's remaining inventory.
In an attempt to raise monies, Blue Chip has sold its principal
remaining liquid assset, shares of stock in All American Food Group, Inc. ("All
American"), which has recently completed an initial public offering, to a
third-party for cash at a price below the price per share which Blue Chip had
previously valued the shares on its Financial Statements filed on its Form
10-KSB for fiscal year 1995. The proceeds from this sale have been assigned to
Allstate to offset shortages in the foreclosed inventory and to pay certain
accrued interest. Effective December 30, 1996 Arthur Schifrin has resigned as
the President of KoolGlo and Chuck Gitlin has resigned as the President of Blue
Chip and Vice - President of Kool Glo. |
