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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: David who wrote (14488)	8/19/1999 3:16:00 PM
From: David	Read Replies (2) \| Respond to of 26039

SACM is drowning . . . edgar-online.com Here are the highlights: SACM reported three month revenues of $14,738 against costs of $862,221. Cash on hand: $131,580. Cash and equivalent burn rate for last three months: $337,160. Not surprisingly, the SEC filing notes that SACM is expected to be out of money in September unless there is additional financing and "The company believes operating losses will continue for the foreseeable future." SACM estimates it needs $3-4M to stay in business to June 30, 2000, and any additional financing to get there will result in "substantial" dilution . . . I estimate it could about cut present stockholder equity in half. SACM's one big asset is an entry of $900,000 for an "unrealized gain on available-for-sale securities." Huh? It turns out that SACM is part owner (600K shares) of a newly reverse-merged OTC:BB company (Inter-Con P/C, trading as of June 1999), and although SACM holds restricted shares locked up until June 2000, it used the OTC market value for Inter-Con without discounting for the restrictions, the limited public market for the BB stock, or its large bloc holding. To get an idea of how phony this valuation is, the SEC filing also notes that a SACM stockholder in February acquired from SACM 600K shares of Inter-Con for only $90K. (Looks like Wendt has moved on to a new stock sale scheme.) In May SACM started laying off workers and reducing salary expenses, and in August left its leased premises for a cheaper place. The company did not include the ongoing 3 year lease obligation as a debit in its report, although the old place hasn't been subleased and SACM is still on the hook. Finally, the company has delayed a new product launch until 4Q99. SACM stock is now selling for under $1 per share. Anyone remember how it started out a couple of years ago at about $15 per share and about a $100M market cap -- almost the size of IDX?

To: David who wrote (14488)	8/19/1999 10:10:00 PM
From: steve	Read Replies (2) \| Respond to of 26039

David, Sorry, don't recall the article... but, speaking of Ohio... School safety expert praises Ohio programs Thursday, August 19, 1999 By T.C. BROWN and SANDY THEIS PLAIN DEALER BUREAU COLUMBUS - Ohio has taken innovative steps to curb violence in schools, according to a national expert here yesterday to address more than 700 educators and law enforcement officials at the first Ohio Safe Schools Summit. Pamela Riley, executive director of the National Center for Prevention of School Violence, was the keynote speaker for the two-day conference, where officials today are expected to unveil a system that will allow school districts to get the results of criminal background checks on potential employees in only two days. The new system will allow prospective employers to electronically submit a candidate's fingerprints to the Bureau of Criminal Investigation and Identification. Currently, background checks can take a month or more. In praising Ohio's programs, Riley cited a new law that requires the state's 611 school districts to develop safety plans; the Safe Schools Audit that seeks suggestions to improve safety from teachers, parents and students; and the creation of the School Safety Center for Ohio, which provides information, training and research to school districts cleveland.com:80/news/pdnews/metro/o19summ.ssf steve