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Microcap & Penny Stocks : STREAMLOGIC CORP (STLC)- This stock is going to fly! -- Ignore unavailable to you. Want to Upgrade?

To: SnakeCharmer who wrote (2673)	3/5/1998 5:14:00 AM
From: Pat Pending	Respond to of 2840

Way to go Snake~ There must have been a little miss understanding by the judge. any idea on how the assets depreciated after the filling while the liabilities increased? Pat

To: SnakeCharmer who wrote (2673)	3/5/1998 8:41:00 AM
From: John Goodman	Read Replies (2) \| Respond to of 2840

Snake: Here is where I expose real ignorance about how STLC is now organized. To me, debtors-in-possession means the assets and liabilities of the company are in complete control of those debtors. Although the company itself is in bankruptcy, STLC is allowed to continue until the bankruptcy court approves or denies the reog plan. Under such conditions, STLC directors and officers have asked that former STLC shareholders not be part of the newly reorganized STLC. Hence, we get cancelled. Asset value continues to drop and the unsecured debt remains virtually unchanged. When you look at the size of the current liabilities (my best guess is these are the secured liabilities), I become angry all over again. I still feel STLC could have been salvaged on our behalf without pandering to the unsecured debtors. What are your views? Am I completely off base with this? John Steve, I just read your post after posting the above. I guess it is now official. We are out of the picture as of March 1. I normally do not get emotional about stocks and the companies I buy into but this one has me very upset. It is hard enough to research companies with the right stuff, buy in, except the risk involved and let management do what they are hired to do. With STLC, we shareholders were considered expendable. In my opinion, the company could have been salvaged without cancelling us. Greed and pressure from those within the company, eventually won the day. I don't care what STLC management does with the company. I will not invest a single penny in the new venture. If we know anything about STLC, we know the people involved. We all have cause not to trust anything they say or do.