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Technology Stocks : SLIC Semiconductor Laser Intl. -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (127)	4/13/1998 10:51:00 PM
From: Theodore W. Konopelski	Read Replies (3) \| Respond to of 174

The Company filed its 10KSB at about 5 pm today (4/13/98). I've only had a chance to browse it (its my 2 year old's birthday today), but I will dig into it on Tuesday. The following items caught my and upset me. freeedgar.com "The issuer's revenues for its most recent fiscal year (year ended December 31, 1997) were $478,924." If I recall correctly, 2nd quarter sales were $179,000 and 3rd quarter sales were $147,916. Doing the math yields 4th quarter sales of $152,008. The 2nd quarter 10Q stated "As of August 1, 1997, the Company's orders backlog approximated $4,000,000." During the live conference call on January 21, 1998, I recall SLI's CFO stating they had $3.4 M of backorders. Based upon the press releases, I wouldn't have expected this! Maybe there is an explanation in the 10K. "As of March 12, 1998, 8,389,552 shares of Common Stock, par value $.01 per share (the "Common Stock"), were outstanding." Maybe the 10K explains what the company is going to do to get the stock price back over its March 1996 IPO price of $5. This would require the company capitalization to be over $40M. Apparently the company is down to 4 directors, Dr. Geoffrey T. Burnham, Chairman, Susan M. Burnham, George Barrett, and Dr. Brian Thompson. What happened to David L. Koffman? When did he stop being a director? Why weren't the shareholders informed? I recall that effective October 31, 1997, Mr. Michael P. Murphy resigned from the Board of Directors. Why haven't these two outside directors been replaced? "The Company is currently engaged in litigation with a former employee who the Company sought action against relative to a breach of confidentiality and defamation of character. The former employee has responded with a counter claim alleging defamation of character and is seeking $500,000 in damages." "The Company is currently engaged in a litigation with an individual who alleges that he never received approximately 40,000 shares of Common Stock he allegedly purchased from the Company. The Company never received any funds from such alleged purchaser and denies any liability." I'll visit the county clerk's office in the next few days and post what I find out. I don't believe the company has done too well in previous litigation.