For all you Copytele shareholders, but especially you happy shorts, there is a great summary on your company in this weeks New York Observer (January 5, 1998) newspaper. I read the paper edititon and do not have a scanner to post the article. The Observer can be accessed through AOL, keyword "NYO", but I do not have AOL. I have no idea what the web version of the paper looks like, or if it contains the article. The article was by Christopher Byron and was started on page 1.
If the article is not found on the AOL site, for someone to copy and post here I would be happy to do a small summary on it for everyone. I will check back here in a few days. After reading the last 60 messages here, I don't think this article holds any revelations for the shorts. $0 of product revenue in 15 years. $33 million in expenses over these years. A product, which if it did exist, probably needs an ISDN line to function and this product is being tested in foreign countries with probably inadequate regular telephone lines. In addition, how many people in these countries could afford these machines? The company is funded from insiders selling shares at the market and buying treasury shares with part of the proceeds. This has caused the float to ballon from 690,000 in the 1983 IPO to 58 million at present. There is some more, which I can post if no one can get the article, but you get the general idea.
I recall seeing one message about it being very hard to borrow the stock to short. Is this still true? I think I may have to jump on this ride down the hill.
Ed |
