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Non-Tech : Amati investors

AMTX 1.460

-6.4%

Dec 12 3:59 PM EST

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To: JW@KSC who wrote (8324)	1/12/1997 1:26:00 AM
From: Kerry Lee	of 31386

(TALK ABOUT WRONG TIMING )I don't know if this is old news or not but VTXL just declared Chapter 11 on Friday after a merger with another company fell through. I recall that this stock ran up quite a bit in the sprong of 1996 when George Soros disclosed that his group had acquired a significant stake in VTXL. Nobody's Perfect.Lesson learned is that people should not invest solely because Soros is involved: FARMINGDALE, N.Y.--(BUSINESS WIRE)--January 10, 1997--VTX Electronics Corp. (OTC Bulletin Board: VTXL) announced today that following the inability to conclude a transaction with Elcan Technologies Inc. as previously announced, VTX has filed a voluntary petition for reorganization under chapter 11 of the bankruptcy code. Commenting on the filing, Al Roth, Chairman and Chief Executive Officer stated, "DIP financing will be provided by Congress Financial and T.W. Cable L.L.C. during the reorganization process." Roth also announced the appointment of Carl Palazzolo and Ed Goodstein to the Board of Directors that fills the vacancies created by the resignations of Marshall Butler, Hiro Hiranandani, Ivor Jacobson, Paul Lowell and Ken Rind. In addition, Roth announced the previous resignation of Paul Snead as an executive officer and employee of the company. CONTACT: VTX Electronics Corp. Al Roth, 516/293-1610

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