This is from Yahoo thread, some good news:
Jun 18 1998
4:52PM EDTI have receieved an email from Liz Youngs at Objective. Rather
than paraphrase it, I will reproduce it verbatim with my actual name
replaced with this moniker Marie24382 has so innocently dubbed me.
"Hi 'Poopinjay23',
Yes, I do remember meeting you.
There have been rumors lately to drive the stock down, and there also
have been several shortseller groups who have sold very large blocks.
The rumors, unfounded are:
1. The financing deal is off
2. We cannot recognize revenues
3. The company is out of money
The truth is:
1. Financing is imminent and on track, we should announce that soon,
perhaps as early as next week.
2. The ATM codec will be completed by the end of June and we will make a
public announcement about its availability
3. The company plans to report earnings/revenues after the end of Q2,
which ends in 8 business days
None of the rumors are true. We are on track, working diligently to move
forward and meet our deadlines. We will be fine. This is a very
difficult time for the shareholders. Our Investor Relations firm has
advised us not to publicly react to the stock price at this time. The
company has other more important announcements that it will be making
when we can. We are not happy about the down turn in the stock price, of
course, but we will turn it around.
Liz"
So, that's the straight scoop from the poop. Can the shortsellers drive
the price down even further? Yes. Depending on how much money they wish
to invest in shorts. But when the price turns around, the shorts will
lose their shirts. The specialists's greed will see to that. The
messeges seemed to have reappeared now.
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