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Technology Stocks : CDDD -- Ignore unavailable to you. Want to Upgrade?

To: Deeber who wrote (406)	12/21/1999 7:20:00 PM
From: Sir Auric Goldfinger	Respond to of 924

Bloomberg: "C3D, Valued at $1 Bln, Faces Bulletin Board Removal. Shares, with a market value of $973 million, are set to be removed from the OTC Bulletin Board next month because the Securities and Exchange Commission hasn't accepted stock-registration documents from the data-memory developer. The Bulletin Board, a quotation system for unlisted securities, included C3D yesterday on a list of companies set for removal next month for not being current in their SEC filings. Market-makers are unable to display real-time quotes of stocks removed from the Bulletin Board, making them harder to trade. C3D's market value makes it stand out from others on the list, many of which are worth less than $1 million. C3D stock has soared 40-fold from its 52-week low in April. It rose as much as 5 3/4 today to a 52-week high of 73. It closed up 3 3/4 to 71. Investors buying the stock may be taking a gamble. The New York-based company's outside auditor, BDO Seidman LLP, warned on Oct. 22 of ``substantial doubt about the company's ability to continue as a going concern.' In its first-ever filing with the SEC on Nov. 12, C3D said its cash would run out by the end of that month and that it was seeking to raise $20 million in funds. Michael Goldberg, a Florida attorney who became C3D's director of legal affairs on March 8, said the company was able to stay in business since the filing by raising $1.66 million selling stock at a 20 percent discount to its market value. The company says it's developed a way to store 20 hours of high-definition television programming on a disk or data card, many times more than current storage technologies such as DVD. C3D's SEC registration says it has received three U.S. patents. International Offices The company has ``more than 40 patents, patent applications and patents pending,' said Goldberg. ``We are this little company that has this incredible technology.' The company has offices in Mountain View, California; Moscow; Israel; Fort Lauderdale, Florida, and New York. Goldberg and Itzhak Yaakov, chairman of the board, each received 50,000 shares valued at $4 a share on March 8, the day they became directors. Two weeks later, on March 24, the company sold 3.125 million shares -- now worth more than $200 million -- for $250,000, or 8 cents each. The buyers, who so far have more than an 800-fold return on their investment in nine months, are 16 individuals, according to the SEC registration. ``Without that money, we were dead,' said Goldberg, who said he doesn't know the identity of the buyers. ``We only care that the money was lawfully raised; we don't care who those shareholders were.' The SEC hasn't accepted the company's registration filing for undisclosed reasons. The OTC Bulletin Board said C3D's stock ticker will change from CDDD to CDDDE on Thursday to warn investors that the company will be ineligible for the Bulletin Board on Jan. 22 unless the SEC approves an amended registration. Goldberg said he expects the SEC to accept the registration after it's amended and resubmitted. ``We have a comment letter,' he said, ``and we're about to respond to it.' --David Evans in Los Angeles (310) 827-2348 through the New York newsroom )212) 318-2300 jh