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Technology Stocks : Systemsoft Inc. (SYSF)
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To: Allen Benn who wrote (3289)5/7/1998 8:13:00 PM
From: Jimbo Cobb  Read Replies (3) of 3529
 
>>Does this thread owe Bob Angelo an Apology?

Allen, although you make some good points, I for one don't believe this thread owes Bob Angelo an apology. He sold millions of shares of SYSF near the peak of an artificially inflated stock price, making millions upon millions of dollars for himself while shareholder equity flew out the door at a rapid pace.

I listened to his comments on numerous conference calls. I heard him say how Andy Grove was going to make SystemWizard the main topic of his keynote address in Madison Square Garden. To the best of my knowledge from what I gathered about the speech (I wasn't there, but I listened to part of it over the Internet), Andy Grove never even mentioned SystemWizard in that speech. After Angelo made those comments to analysts during a conference call--that's when SYSF soon skyrocketed to its all-time high price. Maybe Grove changed his speech in the weeks between the conference call and the Madison Square Garden presentation. Maybe Angelo was just trying to pump the stock as sky-high as possible to unload his millions of shares.

I heard him make many other claims that never came true.

I asked when the commercial (shrink-wrap) version of SystemWizard would be available...he said next quarter....then the next quarter he said the next quarter...and on and on and on, and here it is years later and still no commercial shrink-wrap version. I understand they customize SystemWizard for each OEM/application, and that makes sense. But apparently he was either intentionally misleading folks during the conference call or the CEO of the company had no idea what they were really planning to do.

I believe the only apology due right now is an apology from Bob Angelo to SYSF shareholders for falsely presenting the market potential for SystemWizard revenue/earnings, or at least the time-frame for such earnings.

With the mounting losses of the past few quarters, I don't even see how SYSF will be able to pay Intel the millions they owe them. I'm afraid this company could be headed under.

I hope not...even GMGC appears to have come back from the grave.

Maybe there is still hope, but it appears slim at this point.

Mark.
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