Tim,
>>My only question is ...... how short are you?<<
Not a single share. I doubt any brokerage would allow anyone to short a stock with a share price under $5 since one can only short in a margin account, and we all know that one can't margin a less than $5 stock.
I never imagined that simply asking a legitimate question would necessitate a "short" accusation.
Speaking of due diligence, one other question: have you taken the time to read SyQuest's latest 8K? If not, here's the relevant link and some notable quotes:
edgar-online.com
>>As of September 30, 1998, the Company was not in compliance
with the financial covenants contained in its loan agreement with
Greyrock Business Credit ("GBC"), the Company's asset-based
lender. GBC waived the default, but reduced the Company's credit
line from $30 million to $10.75 million. Currently, the Company
has no availability under its reduced credit line for additional
borrowing and no other credit lines or sources of significant
debt financing. The Company is seeking additional financing from
another source, but there can be no assurance that such financing
will be available. The Company has been obliged from time to
time to cut back or discontinue certain vital business
activities, such as marketing, shipping, advertising, production
of new inventory, purchase of raw materials, and research and development.<<
>Unless the Company is able to obtain sufficient financing or
secure a strategic alliance, the Company will not be able to
continue funding its operations.<<
Please do yourself a favor and consider carefully what this means to SyQuest's immediate ability to continue as a going concern.
regards,
Philip |
