Tony:
Wrong on all counts.
a) SPDE is just a new name for CVUS, which had been trading
on the Nasdaq since it went public in 1994. SPDE just avoided
delisting, presumably because of the cash infusion brought
about by the sale of most of its spectrum to Winstar. Note
that when CVUS went public, CVUS raised about $90M. Before
the spectrum sale, it was at about -$20M. So, the company
burnt about $100M in 5 years. The company is reduced
to a skeleton crew of about 10 employees, it
cannot maintain its equipment, because the CEO Shant H.
stiffed the equipment manufacturer, which is suing SPDE.
For that matter, the CEO of SPDE is being sued by every
person he has ever encountered: the previous CEO, the CTO
(Bernie Bossard), and a long list of suppliers who have not
beein paid. It's not a pretty sight.
b) All SPDE got was a license to customize Netscape.
Gee, next time I purchase a license from Netscape,
I will be setting up a scam.com company, and will
be charging you $7/sh for the thrill this brings to
your life.
With all due respect, you need to read the entire CVUS thread
on SI and Yahoo (if it is still up) to understand what's
going on. You have no concept of what you are getting into. |
