md, if you are new to the stock, you might like to know the co. story.
The founder, Mr. Crane, drove his previous co. to bankruptcy. Then, a couple of years later, he started this co. He got an IPO from the notorious Whale Securities. The stock went up over 50 on a lot of hype. But the co. never sold much of any product, except for a few personal computers that they built and bartered to a supplier. They didn't even sell them for cash. He went through lots of managers, who never lasted long. The stock fell. To date, they have lost a cumulative $74 M. What they have to show for that is $1 M in cash, which is only about 1 month's worth of cash burn at 1998 levels. It will last them a bit longer than a month, though, because they recently fired almost all their employees. But it surely won't last them a year. The stock has recently been delisted from the NASDAQ for not meeting their requirements. Crane sold all his shares already.
So then, to return to your question, will it be make or break?
I think that's a pretty easy question, now that you know the story.
What I really want to know is the answer to this question:
Do they give hat-trick awards to CEO's who drive two companies in a row into bankruptcy? |
