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Technology Stocks : IMON - Quoted from Barron's Corporate Reports
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To: Paris who wrote (892)1/24/1999 5:00:00 PM
From: Fred Puppet  Read Replies (1) of 2220
 
Paris, there is no money in the company coffer. None of the proceeds of the insiders' shares being dumped on the public is going to the company. Maybe you missed my quote from the SEC form 424B3 filed on 1/11/99?

"Recently, the Company has generated significant operating losses and has failed to
generate positive cash flow. As a result, the Company has, and continue to experience,
shortages of working capital to fund day to day operations. ImaginOn also has
generated significant operating losses and has failed to generate positive cash flow.
The shortages of working capital and insufficient cash flow have, from time to time,
prevented the Company from making prompt payment of current obligations. As a
result, the Company is subject to numerous claims for collection of past due amounts
and are past due on certain of its debt obligations."

Read it for yourself:
sec.gov

It appears to me that the insiders organized some internet hype so they could dump their shares before the company enters bankruptcy.
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