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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (12243)	10/30/1997 6:34:00 PM
From: John Kratus	Respond to of 18263

Roger, you may be covering tomorrow!

To: Roger A. Babb who wrote (12243)	10/30/1997 6:43:00 PM
From: nonzeroa	Respond to of 18263

Cash and short term investments decreased from $17.3 mm to $13.8 mm and A/R, inv, and deferred taxes decreased while both accounts payable and accrued liabilities increased! I'm going to miss ZITL after it crashes.

To: Roger A. Babb who wrote (12243)	10/30/1997 6:47:00 PM
From: maf	Read Replies (1) \| Respond to of 18263

Rog, Am clear on your strategy. Do you or anyone out there have another strategy/scenarios on making $$$ with this pig down then up then down again tomorrow, or would you maintain that better to keep your short position intact since shorting it may not be possible tomorrow? I think shorting it may be possible after the initial crash and reverberations settle, if at all. Remember Oxford Health Plan earlier this week? If tomorrow (great that it is a Friday!) is downward volatile, even at the open, Z should hit the single digits no problem! I noticed ASND descended quite a bit near and at the close as did others, suggesting tomorrow's opening could be ugly. Watchword ASIA markets again this evening. Good luck to all. Angel, why so quiet? Short at 16 3/4

To: Roger A. Babb who wrote (12243)	10/30/1997 6:51:00 PM
From: Bearded One	Respond to of 18263

. It is over. I will cover at $4. Roger, This could be one of those stocks which you never have to cover, and thus never have to pay taxes on. Just a thought.

To: Roger A. Babb who wrote (12243)	10/30/1997 7:22:00 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 18263

Roger, Cash Flow: Zitel has $13.8M in cash and short term investments. How long can they survive? 1) Cash (and short term investments) decreased $3.5M from last quarter. 2) AR decreased $0.5M 3) Inventories decreased $0.4M 4) AP increased $0.8M Therefore, Zitel used $5.2M in cash last quarter. Management is talking about cutting expenses - but with $13.8M divided by run rate of $5.2M - Zitel will be out of cash in May 1998. 7 Months! Best Regards, Bill