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Microcap & Penny Stocks : DMEM - Has it returned from the dead?
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To: fmrick who wrote (59)6/16/1998 5:51:00 PM
From: fmrick  Read Replies (1) of 78
 
In case anyone is interested and is watching:

I talked to the company today. They returned MY call. I talked to a guy who says he is now in charge (first name Michael). He said the company is about to come out of bankruptcy. They have worked out a re-organization plan and it has been approved by everyone but the Judge. They expect the judge to sign off on the agreement soon.

He said they will be able to get some "fresh" money as part of the agreement. The problems with Digital has been settled.

He said the company will have a series of releases as soon as the Judge signs off on the deal.

The company is still in the memory business. They plan on expanding this business and have got into the distribution of pre-paid phone cards. They currently have a contract with Catalyst Communications to distribute cards. These sales generate the company 5 cents clear earnings per card. The current contract is for 7 to 10 million cards/year. That would be make the company $350-500,000 each year of earnings.

Well that's it! I currently hold a rather large position in the stock. I had considered selling for tax purposes last year, glad now I waited.

Mike said we should start to see thing moving within a month.

Rick
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