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Technology Stocks : Copytele - Another XEROX in future -- Ignore unavailable to you. Want to Upgrade?

To: Elliot Mausner who wrote (1290)	6/26/1998 8:08:00 AM
From: Q.	Read Replies (1) \| Respond to of 1320

The 10Q for the quarter ending in April shows, once again, zero revenues. And there was, once again, no earnings news release. It looks like the stock really collapsed when the 10Q came out June 16. A buck now. Well, I wish I hadn't covered at 3 3/8 back in December. I thought there would be a rally after tax loss selling season was over, but no. Book value is $0.26, cash per share is a little over a dime. That's probably the floor. The co. won't go bankrupt for about 2 years... they have $ 8 M of cash, and they burn $4 M per year. This estimate is consistent with what mgmt. says in the 10Q: they can last into the first Q of 2000. The previous method of the co.'s raising cash was conversion of options by Denis and Frank, but this isn't going to work any more, since the average exercise price of the options is over $5. Stick a fork in it. This one is done.