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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drakes353 who wrote (1244)	6/23/1998 5:07:00 PM
From: CMason	Respond to of 2506

drakes353 -- Thanks for your response. I agree that the financials would be most helpful, but I suspect we may never see them. They're almost three months late with the 10K, 40 days late with the first quarter 10Q, and I don't know how late with the filing on the unit that declared bankruptcy. They intimated on the 10K announcement that they were considering a writedown of their foreign operations. Even when we did have the financials, they reflected so much self-dealing that I think they may have concealed as much as they revealed. My guess is that the combination of self-dealing, late filing, delisting, and bankruptcy will draw the plaintiffs' bar; CCSI and ZONA have certainly attracted enough suits with less apparent cause. That litigation will at the very minimum distract management from the mechanics of running the business, as well as introducing additional expenses which EQMDE is ill-equipped to bear. I'm going to hold my short for at least a little while longer and see what happens. Thanks again, CMason