SYQUEST Message Board - Msg: 5515165

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Technology Stocks : SYQUEST

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To: Dale Stempson who wrote (7044)	8/17/1998 11:05:00 AM
From: Cogito	Read Replies (1) of 7685

Dale - Wow. That is one dismal 10-Q. "Lower than anticipated unit shipments and sales prices." More than 128 million shares outstanding. More than 17 million share sold at par value ($0.0001) in order to induce holders of warrants to exercise them. And possibly the scariest part of all: "The Company's existing capital resources are insufficient to fund operations through the remainder of its fiscal year ending September 30, 1998. The Company will look to proceeds from the exercise of outstanding warrants issued in connection with previously completed financings, or from sales of common or preferred stock, or debt securities to fund operations until market conditions improve. The Company has no agreements with investors or potential investors to exercise warrants or sell equity or debt securities, however, and there is no assurance that the Company will be able to secure such additional financing.Without such additional funding, there is no assurance that the Company will be able to continue as a going concern." I offer my sincere condolences to anyone who is holding SYQT at this time. I've been in similar situations, and I know how you feel. - Allen

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