Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ZixIt Corporation (ZIXI) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Trocchi who wrote (3912)	9/18/2002 8:01:42 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 4120

General Magic (GMGC), maker of magicTalk (some kind of neato-keen software that nobody actually wanted -- sound familiar?) "today announced that its efforts to obtain additional financing or to complete a strategic merger or acquisition have been unsuccessful. As a result, it will discontinue operations effective at close of business today and initiate an orderly and expeditious liquidation of its business." A select comparison of financials: GMGC ZIXI Avg Q Revenues, past 4 Qs $ 2.000M $ 0.196M Avg Q Operating Losses, past 4 Qs 5.908M 11.434M Avg Q Net Losses, past 4 Qs 5.724M 12.377M Liquid assets, 6/30/02 6.541M 10.799M Total assets, 6/30/02 11.389M 18.455M Current liabilities, 6/30/02 6.904M 3.711M* Net Tangible Assets, 6/30/02 1.862M 12.244M (* excluding $2.5M debt to Yahoo, subsequently satisfied with stock issue) Offhand it looks like ZIXI catches up with GMGC in about 3 months unless they are somehow more successful in financing/merger/whatever than GMGC was. I bet Haywood buys a million shares the day it happens to ZIXI.