SI
SI
discoversearch

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 : S3 (A LONGER TERM PERSPECTIVE)
SIII 0.00010000.0%May 12 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Carolyn1 who wrote (7448)11/5/1997 9:23:00 PM
From: Tom Terf  Read Replies (1) of 14577
 
Carolyn:

All good questions..

The Company gets to fix the reporting problems... especially
as they have come clean and are admitting the problem.

They will need to bring another independent firm to do
thorough -- and I mean REAL thorough -- review of all
results dating back for 4 - 6 quarters I would guess.
Probably when Gary Johnson took over as CEO.

This will take quite some time and it will very expensive
($ 2M) and painstaking as well. Lawyers also
involved at $ 400 per hour.

The danger here is that they may be able to buy time
with the NASDAQ people, and file the requisite SEC
reports with the 60 day grace period after the period
closes.

If this happens their stock will trade on the pink sheets
until they go the data together. It must be squeaky clean
before it will signed off.. that's why it can take so long.
Lawyers and accounts are all into the act... with their
meters running, or course.

It's very fluid at this point. S3 must go to NASDAQ and explain
problem and what they are doijng to resolve it.

Further, this is complicated by shareholder suits which
could require discovery documentation which further
exaserbates the situation.

Not real pretty going forward, is my guess.

That's why I think it will go from bad to worse within the
next 7 - 10 days.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News