SyQuest FAQs:
1. Is SyQuest still in business? Why doesn't anyone answer the phone?
After failing to reach a workable arrangement with our bank, SyQuest was forced to file for Chapter 11 bankruptcy protection. The sudden filing forced the company to essentially suspend all operations until the court was able to review the filing. The court recently approved SyQuest's request to restart operations as they pertain to ongoing business. The fact that you are reading this on the SyQuest website is positive evidence that the company is working toward restoring additional operations, services and support as allowed. It's because of loyal enthusiastic users such as yourself, that a small and very dedicated team of people at SyQuest is working to restore SyQuest operations. Thank you for your continued support and patience as we transition through this difficult period.
2. Why don't some of the links work on the website?
The primary objective in bringing the website back up is to provide a mechanism for users to access the support and driver download pages. For 1998 revision of the website as a starting point and get back online immediately. We apologize for the inconvenience, and encourage you to check back often for updates.
3. How do I get my SyQuest product repaired?
One of the most important things that we are working on is to resume accepting products for warranty repair. Please be sure to return to this website in the next 30 days when we will be providing instructions on to return your drive for warranty repair.
4. What has happened to the drive I sent in to SyQuest for repair?
Rest assured, your drive is still safe with us. We are working with the court to and tests before we send it back to you. In the next 30 days, we will denote a special area on the website to specifically deal with questions, answers, and status of returned drives.
5. How do I contact SyQuest?
For now, please feel free to send us email at info@syquest.com. We will respond as quickly as possible, but please understand that it may take a while, given our current resource constraints.
6. Can I still buy drives and cartridges?
Yes! Leading retail stores, catalogs, and internet shopping sites continue to sell our drives and cartridges. If you have difficulty finding the products you need, please let us know at sales@syquest.com so that we can address the shortage as soon as possible.
*** above info is from SyQuest's website ****
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Well, at least it appears "something" is happening. My best guess is that we'll soon (perhaps in the morning) see a press release from Iomega announcing that they will be purchasing key SyQuest assets and technology.
Regards - Dale
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BTW Jonathan, you asked: "Is Syquest back in business in a limited way? Are the shares any good at all?"
I suspect that what we are seeing is in line with previous reports that there would be support made available to SyQuest customers as part of the purchase agreement. As far as the shares go, we do not yet know the answer for certain. IMO, your chances of getting anything for your shares are extremely remote. I hope I'm wrong. Good luck to you.
(also, I believe that today's reported trade was simply a mistake and not intended as a joke. It has happened two or three times since the stock was halted)
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