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

To: Jeffrey M. Jewett who wrote (2677)	3/5/1998 11:30:00 AM
From: John Goodman	Read Replies (3) \| Respond to of 2840

Jeffrey, would you invest on the idea there may be an appeal? Who is going to file such an appeal? There is no one left outside the company with any authority, i.e. former STLC shareholders. This was a well planned asset grab using the unsecured creditors (UC) as the vehicle. Without these unsecured creditors, STLC management could not have pulled it off. By agreeing to take stock in the new venture, the UC's will abate payment of their debt. Now you can grossly undervalue all assets and plug in secured debt and other liabilities. The court bought the plan and as icing, cancelled us. Now, STLC can find additional financing with a clear field. They can issue a new public offering to shareholders with fresh capitol. The UC's see a nice gain in their new stock and that unsecured debt of around $30 million begins to shrink considerably without STLC having to borrow a dime to repay it. All we can do is watch it happen. Look what Preletz got for his part in this. If we as shareholders could have offered more, he may have sided with us. John