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

To: Rocky Reid who wrote (6237)	4/28/1998 5:25:00 PM
From: RockiReid	Respond to of 7685

syrocks increase in Rev. of first 1/2 98 from first 1/2 97 was pathetic. At this rate they should be getting profitable just in time for ORB, the Syquest Destructor to burst onto the scene and destroy tiny little syrock.

To: Rocky Reid who wrote (6237)	4/28/1998 5:28:00 PM
From: Gary Wisdom	Read Replies (5) \| Respond to of 7685

Re: I am impressed by the revenue realized this Quarter Rocky, you obviously don't know how to read a financial statement. 1. Revenues were $47MM and accounts receivable = $33MM. Obviously, they're sending shit out and not expecting payment unless they eventually sell it to some sucker. 2. It cost them $81MM to get revenues of $47MM. Some business model. I guess if they spend more, they can recognize more revenue (although of course, that's recognition, not true sales). 3. Notice that they do not report shareholder's equity in the balance sheet. They lump long term liabilities in with the equity. I guarantee you that equity is NEGATIVE. 4. Note that the only ones that made money in this company are the executives and the preferred shareholders. Everyone else lost money. 5. Note how they don't compare the balance sheet to last quarter. Obviously hiding something. 6. Note how they have $25MM in short term borrowings. Guess who'll get paid first: the bank or the shareholders? 7. Note how their accounts payables are way up. No cash to pay anyone. 8. Note how they reduce their loss each year per share by issuing more shares. Wonder why the CFO quit? 9. Note how they say basic and diluted earnings are the same? BS. They're not including about 75MM shares exercisable though warrants, et al. Obviously, at less than $3, no one will exercise them. 10. At least their gross margins are up. Last year, it cost them $2 to make $1. Now, it only costs them $1.10 to make $1. There's something to hang your hat on. Of course, that is gross margin, not net. Add other expenses and the picture is even bleaker. My prediction: out of business within 2 months. Short term prediction: the stock will go to $5 tomorrow as some analyst will try to put a positive spin on this crap.