Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Bob Trocchi who wrote (13091)	11/26/1997 11:13:00 AM
From: CalculatedRisk	Read Replies (1) of 18263

KING POCKETS $200K AFTER TAXES! How to interpret Kingese: April '97 King: "If it goes well the next action after that is 2 million lines of code under contract" Implication: Contract will be announced soon. TRUTH: It never "goes well" for Zitel! July '97 King: "The contract is on my desk". Implication: Zitel is finally going to get a contract. TRUTH: No Y2K contract, No Y2K customers, No Y2K revenues. Oct '97 Question: Any Y2K revenues this quarter? King: "Huh ... none that would show up". Implication: Who knows? TRUTH: No Y2K Revenues, No Y2K Customers, No Y2K contracts. Nov '97 King: Selling of Zitel shares "was driven by the need to cover costs and the resulting tax liability". Implication: Hey, I just increased my holdings and paid my taxes. TRUTH: King pocketed a minimum of $200K after taxes. He also increased his basis on the remaining 40K shares.

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