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To: Teddy who wrote (34860)	11/8/1997 1:51:00 PM
From: Teddy	Respond to of 58324

My new candidate for worst stock ever: Friday November 7, 7:40 pm Eastern Time Horizontal Ventures sets reverse split NEW YORK, Nov 7 (Reuters) - Horizontal Ventures Inc said Friday it executed a one-for-220 reverse stock split as part of its Chapter 11 bankruptcy reorganization plan. Horizontal, formerly known as Petro Union Inc (Nasdaq:PTRU - news), said it has distributed 80,018 shares in the reorganized company. In addition, the former shareholders of Horizontal Ventures Inc of Oklahoma -- acquired by Petro Union in September -- and others are to receive 920,000 shares. As a result of the reorganization, 1,000,018 new shares are issued and outstanding. Horizontal said it expected its new shares to begin trading on Nov. 10, under the symbol HVNV. Horizontal is an oil and gas exploitation and production company. More Quotes and News: Nasdaq:PTRU - news; Nasdaq:HVNV - news

To: Teddy who wrote (34860)	11/8/1997 3:16:00 PM
From: Dale Stempson	Read Replies (1) \| Respond to of 58324

Re: >>>Unless they continue to sell more shares Syjunk will have no cash in less than four months.... it is very likely that they will be delisted in January.<<< Edward, These events may indeed happen at some time in the future, however it is highly unlikely that they will happen in the next few months. Syquest has continued to receive considerable financing that included giving away free warrants with conversion prices less than today's SYQT selling price. Many of these will be exchanged and will bring in additional cash for Syquest in the short term. The dilution will continue, but so will inbound cash, probably enought to finance more losses for the next couple quarters. Regards - Dale BTW, Delisting takes time. Syquest was previously in trouble with the NASDAQ for quite some time and was able to avoid delisting with promises of meeting the requirements in the future, which of course they did. Just because a company does not meet the NASDAQ requirements for a quarter, doesn't mean they'll be automatically delisted.