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Technology Stocks : SNNT - Synthonics -- Ignore unavailable to you. Want to Upgrade?

To: Obejuan who wrote (26)	3/30/1998 11:05:00 AM
From: Keith	Respond to of 209

I thought I read that in one of their quarterly reports, but I can't find it now. I see in the annual report that (Note 10) they have an accumulated deficit of $4.3M, and they might have to go to the equity market for more financing. I'm not concerned at this point about it, this is typical of a new, developmental company. I wish they would look for a large company to help sponsor them (Intel?), they appear to do some very good work.

To: Obejuan who wrote (26)	3/30/1998 4:43:00 PM
From: John B.	Read Replies (2) \| Respond to of 209

The company tried to do a placement of 500,000 shares of preferred stock last quarter at $10 a share. Based on Note 9 in the annual report, it looks like they were only able to sell 50,000 shares. Each of these shares has the option to be traded for 5 shares of common (our) stock, and they provide a 12% dividend. This would be a great deal if they could justify the stock moving past $2 a share. This is somewhat of a concern. There are however new board members that have some investment savvy. This should help. The other good news is that many of the management incentives kick in at a $4 million booking total. Hopefully they make a lot of bonus money. It would be interesting to find out what their thoughts are on why the placement fell through. John