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Technology Stocks : Zitel-ZITL What's Happening
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To: Roger A. Babb who wrote (4584)2/27/1997 9:08:00 PM
From: aatish dedhia   of 18263
 
Nothing really interesting at the shareholder meeting. Zitel had no clue
about the Matridigm side of the business (..."ask Matridigm"..was the
general answer given to specific Y2K queries)
Few points made at the meeting
1) Matridigm was still (!) doing small beta tests "and first slot in the "factory" is booked by Zitel for March.
2) "Initial customers will not be Fortune 5" (corrected himself in the nick of time..i would put 500 over there:) "customers. They will do small projects first.
3) They hired a man in Washington who has also been attending the XYZ govt commitee to investigate Y2K.
4) To a question whether the main revenue from Y2K would be from the initial investment by Zitel in mdgm, the answer was yes (contradicting his earlier statements about getting revenue from ZSS).
5) Have moved 5 people within Zitel to also work on Y2K. Are going to hire more.
6) Prospectus said that there are 4.6 million (or was it 5.6) company options out of the 17 million shares outstanding....Shocker to me. Insiders stand to gain a lot from the recent runup in price.
7) Zitel has exclusive right to Matridigm technology.
8) Lot of talk about storage solutions for IBM systems that I slept through.

IMHO, whole thing looks like a sleaze operation. Sure insiders are laughing all the way to the bank.

In case, you havent guessed, I am short on this stock. Take everything you read on this newsgroups with a pinch of salt...and always do your own research :)

Aatish

P.S. Thanks Roger Babb.. You were spot on about your short picks for the year (rmdy ctxs, zitl, vias). Shorted all of them and made decent profit. I shorted CTXS day before yesterday on the rumor (5000 shares) bought it back yesterday with a small profit...How I wish I had waited for the news today (-15) :) I am not going to let Zitel get away now....will wait till the teens.
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