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Technology Stocks : Innovacom (MPEG), [announced single chip MPEG-2 encoder] -- Ignore unavailable to you. Want to Upgrade?

To: Alex Dominguez who wrote (5529)	6/5/1998 6:40:00 PM
From: Peter V	Respond to of 6297

Compared to the excitement you had today, I'll take the boring ole CUBE any day. Best of luck to all involved.

To: Alex Dominguez who wrote (5529)	6/8/1998 9:52:00 AM
From: BillyG	Read Replies (1) \| Respond to of 6297

Innovacom CEO resigns after one month on the job......... newsalert.com InnovaCom CEO Resigns SANTA CLARA, Calif.--(BUSINESS WIRE)--June 8, 1998--InnovaCom, Inc., (OTC/BB:MPEG) announced today that Thomas E. Burke, the Company's recently hired chief executive officer, resigned from his position after the close of the market on Friday, June 5, 1998. Mr. Burke was with the Company for only a month before his resignation. Mark C. Koz, the company chief technical officer and chairman of the board, will act as the company's chief executive officer until the board of directors officially fills the position. It is uncertain what effect Mr. Burke's resignation will have on the company's financial condition. Mr. Burke has "reserved his rights" under his employment agreement for additional compensation, but has not yet claimed any severance payment provided for in the agreement. If Mr. Burke makes a claim for a severance payment, it will likely be in an amount exceeding the company's available cash and may have a material adverse affect on the company's financial condition and results of operation. Mr. Burke contends that the company was obligated to obtain a letter of credit of $1 million to secure the company's obligations under his employment agreement. During Mr. Burke's tenure as chief executive officer, the company continued to experience delays in the funding of its next $5 million in capital requirements. The company is currently seeking sources for its next $5 million in capital in order to continue operations and its efforts to bring its system products to the marketplace. InnovaCom is located at 3400 Garrett Drive, Santa Clara, Calif. 95054. Investor Relations telephone number is 408/727-2447. CONTACT: InnovaCom Investor Relations, 408/727-2447 MORE........... CBSM 06/08 08:52 INNOVACOM SAYS NEW CEO THOMAS BURKE RESIGNS. CBSM 06/08 08:52 INNOVACOM SAYS UNCERTAIN OF FINANCIAL IMPACT OF RESIGNATION. CBSM 06/08 08:52 INNOVACOM SAYS SEVERANCE CLAIM MIGHT EXCEED AVAILABLE CASH.