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Microcap & Penny Stocks : JTS- "A Nordic Drive in Every PC and laptop"
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To: Ben Antanaitis who wrote (1800)3/27/1998 1:10:00 PM
From: tbevan  Read Replies (1) of 1985
 
I got IR on the phone a few minutes ago. This is what I learned.

Proposal #1 to increase the number of shares passed.
Proposal #2 to be able to call an emergency share holder meeting failed, which means that they will continue to function according to existing By-Laws on that count.

There were only about 15 people at the meeting. It wasn't a great meeting. It wasn't a terrible meeting.

The company is now "second-sourcing" Packard Bell.

The 6.4 gig drive is still not shipping. It's being sent out on a test basis, or something like that.

Still no word about whether the $5 Million sale of Atari gets counted as earnings. We know this, though: $2 Million of it goes to pay off an unspecified obligation, and $3 Million goes toward working capital for going forward.

And here's the big one: The company is no longer willing to stand by Mitchell's prediction that the company will show a profit in the first fiscal quarter. There are too many things that could or couldn't happen in the next four to five weeks.

How do you like that? How much of an a**hole is Mitchell? This is at LEAST the second time since I've been invested in JTS that he has f*cked us with a failed prediction of profitability.
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