Mr. Watson - Penguin master, I presume.
Your NINE buy, if you indeed did 54K was provocative. One thing that had bothered me about the 1600 was that it did not support Mac. Oops, I forgot about Mac World - the obvious time to announce it.
So I went back and revisited my NINE stuff. In the 10Q I found that cutsy little sentence that said that NINE would run out of cash this year. Coupled with the little throw-away that their current bank was not going to renew its line of credit, I became lightheaded. So then I relooked at their SGI deal: loan -> warrants -> Preferred Stock. Aah! 26% equity stake, with the rights to go to ~30% {via Preferred, get it?}
If things don't go good - ie,if the customers who have fled NINE don't return, and their entire revenue stream is the 50,000 monitors they project to sell into the PC and Mac markets, so they take a trip through reorganization, SGI's OK, the common shareholders are not.
So in the spirit of looking down before you look up, I became diaphoretic looking down on NINE.
LauA |
