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


To: Link Lady who wrote (662)6/4/1998 9:46:00 AM
From: Link Lady  Respond to of 693
 
Article in Globe&Mail today
Talks colapsed Sunday. Xinex wanted 3.1 million. Their product has been launched 2 months ago. Positive results of tests but no orders. Who would order if there was a chance company could go into receivership.
Excerpt from article: Roy Leahy, president and CEO
of Xinex, said Helix was willing to invest $1.5-million
provided the other investors put up the rest. But talks
collapsed Sunday night, prompting Helix to withdraw its offer.
Xinex directors will meet in the next few days to decide on the
next step, including the possibility of receivership.