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Technology Stocks : Vidikron Technologies Group (VIDIC) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (779)	7/29/1999 1:23:00 PM
From: Bruce Young	Read Replies (1) \| Respond to of 782

Wow! I have over twice as much with 25 shares! I just hate looking at in in Quicken -- Down 99.5% More bad news- looks like it is all over. Dow Jones Newswires -- July 29, 1999 DJ Vidikron Tech May File For Chapter 7 Bankruptcy JERSEY CITY, N.J. (Dow Jones)--Vidikron Technologies Group Inc. (VIDI) said it may file for liquidation under Chapter 7 of the U.S. Bankruptcy Code because the company can't proceed with its expected financing. In a press release Thursday, the home-theater technology company said PNC Bank Corp. (PNC) exercised its right of setoff against all funds of its Vidikron America Inc. unit accounts, currently maintained by the bank. Vidikron said PNC Bank won't make funds available for payroll, and the company' board plans to meet Friday to obtain authority for the Chapter 7 filing. Nasdaq Smallcap-listed shares last traded at 9/16, up 1./8, or 28.6%, before they were halted at 9:42 a.m. EDT on the news. Vidikron's president, Flavio Peralda, resigned, along with Chief Operating Officer Emilio Baj Macario and executive vice president of marketing and sales Giovanni Cozzi. Cozzi also resigned as president of Vidikron of America. -Leah McGrath; 201-938-5400