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

To: Richard James who wrote (6264)	4/28/1998 11:41:00 PM
From: dartmouth	Read Replies (3) \| Respond to of 7685

Enough!! seems like no one really knows anything here.. time to put up or shut up. what will be tomorrows close? -the usually silent, dart

To: Richard James who wrote (6264)	4/29/1998 1:07:00 AM
From: FuzzFace	Read Replies (1) \| Respond to of 7685

I believe SYQT recognizes revenue when it slaps a serial number on the back of a drive. But seriously, does anyone know how many SparQ drives they sold in the 3rd qtr? $47M/$150 = 300K, assuming not a nickel from anywhere else. If half of revenue was from SparQ drives, that's 150K drives. Not bad, but not exactly salvation either, when you consider the net loss is $32M on those revenues. Sequentially, they grew revenues by 47% over the 2nd Qtr, and reduced net loss by 19%. At that rate, they need to increase revenues by another 133% just to break even - just to get the PE up to 0. Admitedly, this assumes they will continue ramping up production. But though I suspect SparQ demand has peaked, from the announcement it doesn't sound like mgmt has any intentions of slowing down production. Which makes the inventory increase to $36M inexplicable. Almost as much as why they refuse to break out shareholder equity and instead lump it in with long term liabilities for a total of $38M. So if LTL = 0, then the best case SYQT Stockholders' equity is $38M/164M shrs = $0.23/shr. And here's my favorite part of the CFO resignation announcement: fool.newsalert.com As part of the original management team associated with SyQuest's turnaround, Michael Clemens joined the company in 1996 as senior vice president, financial services and treasurer. Prior to joining SyQuest, Clemens spent 11 years at Western Digital Corporation as vice president and assistant treasurer. WDC, eh? He sure can pick 'em. What's next? IFMX? Take a look at hoovers.com Describing SYQT as a "turnaround" story reminds me of the old Asteroids video game, where you can turn your ship around with attitude jets, but until you fire the thrusters you keep going in the same direction. With SYQT, it's hard to tell if the thrusters are on. What captivates me is wondering where the dilution will end. If they could just be done with it and issue, say, 800 million more shares at $1 each, they could live off the interest. It is even doubtful the current owners would know or care.