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To: craigl who wrote (2693)	10/26/1998 8:12:00 PM
From: Philip J. Davis	Read Replies (2) of 10072

SYQT Avoid Recommendation biz.yahoo.com >>Syquest technology is out of cash, overextended on credit and suffering severe losses that may preclude its ability to survive as a corporate entity. The continuous issuance of equity capital and warrants to fund operations over the past two years has ballooned its capitalization and may have impaired its ability to raise new monies. More important increased competition, price cutting and an over estimation of the growth of markets served by management appears to have severely limited a return to profitability near term if at all. The company has indicated that without immediate funding they cannot support operations. A layoff of 43% of its 2,200 employees and the closure of its Fremont, California manufacturing plant this past August has provided no remedy to date. Under certain circumstances, the shares should be sold as near term prospects appear exceedingly dim. With a current market capitalization of approximately $200 million, based on a recent stock price and 230,000 shares outstanding. Fully diluted we believe Syquest is grossly overvalued, based on the following investment considerations and rate the stock an avoid.<< Philip

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