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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: leigh aulper who wrote (18127)	1/2/2000 1:20:00 AM
From: Ken W	Read Replies (2) \| Respond to of 29382

Liegh: "The CEO resigned, he could'nt take the heat" After reading the 10SQB I can see why he "could'nt take the heat" The only positive I saw in there was the 5+ million in account rec., Total assets are only 100k or so above total liabilities. The recent 1 MM cash is a plus to keep the doors open until they can "hopefully" close the deals not made in the third Q. The problem with the cash is that security for the loan in convertible debt. 291K shares with excersize at 2 dollars per share. The date, at least, is a little way off (March 2000). So, bottom line here. FA wise the company sucks water. They absolutely have to close whatever transactions they missed in the 3rd Q to stay alive. The recent near default on one of their 2 long term loans is not too cool either. These loans are secured by assests and more "equity" in the company (translates to convertibles) The TA is nice, but for news pops only. Ken