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

To: Bill Wexler who wrote (14781)	3/28/1998 2:19:00 PM
From: White Shoes	Respond to of 18263

*THE WORLD ACCORDING TO ZITL: Risk factors* from ZITL's most recent 10K filing** (first in a series) "In recent years, the Company has not generated net sales sufficient to produce an operating profit and has relied on a stream of royalty payments under an agreement with IBM to support its activities. These royalties amounted to $15,421,000 in fiscal 1995, $14,473,000 in fiscal 1996, and $5,340,000 in fiscal 1997. The Company believes that IBM is transitioning to a device that does not require royalty payments to the Company and that, as a result, royalty revenue will continue to decline."