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.

Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: Carolyn1 who wrote (7455)	11/5/1997 9:42:00 PM
From: Tom Terf	Read Replies (1) \| Respond to of 14577

If NASDAQ delists S3 from trading because they fail to file the 10Q documents on time (or past the normal grace period (60 or 90 days), then the stock can still trade, but it goes onto the bulletin board system. There may be an interim period where it will also be on the NASDAQ, but will trade as symbol SIIIE, the E denoting lack of timely quarterly filing. The filing delay is due to the extra diligence required of the new account team they bring in.. who have little familiarity with S3 and their procedures.. Obviously, their existing accounts were fooled by this process. It will be interesing to find out exactly how they got this data past their outside auditors... who should have been viligent in this area. The current auditors are also liable in case there is a shareholders suit. Again, how do you miscount $ 70M worth of sales ? That's almost 20 % of the total for the past 3 quarters. This will undoubtly produce a modest loss, which management was reluctant to show in the first place.