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To: Q. who wrote (453)7/5/1998 10:17:00 PM
From: lindend  Read Replies (1) | Respond to of 994
 
>> it is very rare for a development stage co. to wait until the very last month>>

John,

You're breakdown never really answered this question: why did they wait so long to do the convertible? The 10Q made in clear that the end of June was when there was serious doubt about remaining a "going concern".

Was it poor management or the fact that they simply lost all bargaining position at so late a date?



To: Q. who wrote (453)7/6/1998 12:23:00 AM
From: Roger A. Babb  Read Replies (2) | Respond to of 994
 
John, my guess is that the company really thought they would pull it out of the fire with a killer product and the product fizzled. I usually take a quick one day short profit in these situations, but this time I held the position because I believe there is more bad news to come.


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