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Technology Stocks : Zitel-ZITL What's Happening
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To: Arthur Radley who wrote (12223)10/30/1997 5:57:00 PM
From: John Kratus  Read Replies (4) of 18263
 
Subtleties in the call:

Passing the Blame
King is a master of blaming others: first quarter it was the inept IT people in Nevada, 2nd quarter it was the lawyers, now he blaming potential customers who are too stupid to know that they have to get started on y2k now. Even the Gartner Group comes in for blame, because it was their estimates that said that companies would be ramping up now.

Secrecy
Not revealing how many try-and-buys leaves open the possibility that contracts could come any day now because of "significant ongoing activity." It was the so-called "secret contracts" that propelled a company with no y2k credentials to this ridiculous market cap in the first place.

IMO, this conf call was the end of the Zitel story, as we know it. I used to think that the jokes on this thread about support for ZITL at zero were just that, jokes. But now I am convinced that there is no viable company here, no way, no how.

I feel sorry for all those folks that bought the lies and half-truths and lost their money. There will be lawsuits about management predictions of contracts (note the angry question about King's statement in Philadelphia that there definitiely WAS a second contract), and the Zitel scam of the late 1990s will be the subject of more than one book and doctoral dissertation.
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