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Technology Stocks : SYQUEST
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To: VanGo101 who wrote (7460)11/9/1998 3:11:00 PM
From: Moe B. Loney  Read Replies (2) of 7685
 
Finally, somebody that has half a brain! I've been laughing at all of the dead-cat-bounce investors that got stuck and now sit waiting for IOM to buy syquest and give the SYQT shareholders their money back. NOT!!! It won't happen.

No company is going to buy Syquest as is. What a company will do is try to buy any proprietary technology that Syquest has. But since Syquest can't sell that without first paying off all of it's secured creditors, Syquest will be forced into bankruptcy court. There, a judge will look at all of the plans that Syquest and or creditors come up with to continue business and pay creditors or liquidate. Since no company will be stupid enough to buy the massive debt, Syquest will be forced to liquidate and pay off all secured creditors first. If there is anything left, which there will NOT be, that will go to shareholders.

After the liquidation of all assets, Syquest will be an empty shell consisting of a huge tax write off and hundreds of millions of shares. In the future, some company may buy the shell for the tax loss but they will not be kind to the current shareholders. They will reverse split and or issue themselves far more shares than current SYQT holders have. This will give original SYQT holders a share valuation of a penny or less.

The only chance that current SYQT shareholders have of getting anything for their shares is if SYQT can locate a "white knight" to bail them out. What are the chances of this happening. You've got better odds of being struck by lightning.

It's tax loss season for SYQT holders.

Moe
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