Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Bob Trocchi who wrote (17242)	10/6/1998 9:03:00 PM
From: Michael	Read Replies (2) of 18263

<<MAT. had 9 mo. revenues of 3.8M and expenses of 10.8M>> MatriDigm has a $10.8 Mil. Operating LOSS. Therefore expenses are $14.6 mil. My take on merger is that MatriDigm insiders want to cash out. An ipo was not possible, and therefore the long awaited merger was the only option available. The results of merger will just increase Zit's bloated expenses. Since MatriDigm is losing about $1 mil. a month. Zit will have an increased cash burn. When the 10K is released,one will be able to figure out the month when Zit will be broke. With Zit dropping in price and trading volume decreasing, there is a 50/50 chance Zit will not be able to issue more discounted convertible bonds. Still shorting to zer$0.00, Sure is a Nice Day, Michael

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