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Technology Stocks : Network Connection , Inc. (TNCX)
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To: John Richter who wrote (320)2/5/1999 1:58:00 PM
From: dlc  Read Replies (1) of 330
 
John,

Here are some facts from todays conference call to set the record straight.

According the the CEO of FLYT, there are receivables and credits worth more than 10 million dollars that will transfer over to TNCX. He said this is a conservative estimate and he thinks it is much higher. They could not supply a number until an outside audit takes place later this month.

The previous management of FLYT did try to exit the business. They have all been replaced by new management. One of their ways to increase value is to merge with TNCX to produce a stronger player. Besides over 15 million in cash they bring a few other positives to the deal. Their technology works over existing cables used on cruise ships. This gives TNCX a product that can be installed in ships that are in service and even at sea. No wet or dry docking necessary. This will greatly expand the market since customers will not have to lose passenger revenue waiting for the system to be installed. Right now the TNCX system requires the running of new cables which requires that the ship be in dock.

The FLYT system is also lower priced than the TNCX system. Now TNCX will have a low end and a high end system to target a broader range of customers.

The NTSB has told Swissair and FLYT that the FLYT system was not the cause of the fire in the MD-11 crash. Swissair has notified FLYT that they intend to put the systems back into service and to order more systems for their fleet.

Before spreading negative rumors, please check the facts. There are a lot of positives here. As soon as the analysts pay attention to the facts and ignore the rumors the stock should move up.
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