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Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: techguy who wrote (772)	8/1/1998 12:57:00 PM
From: Pluvia	Respond to of 3015

Signs of SRCM Management DESPERATE to raise CASH: 1. Re-releasing Press releases - trying to hype Insight Deal and keep stock above $20 allowing them to exercise the "public" warrants, a promotion worth 25.85 million to them; 2. Increase of issue-able Preferred Stock so they can sell more Preferred stock and raise more money; 3. Announcement of a "Demo" roadshow to try to halt slide in stock price, halt loss of shareholder confidence. Everything I see here points to Management that is DESPERATE to raise money, DESPERATE to try to promote and HYPE their stock. So far SRCM has failed in all of their cable carriage contracts and failed to sign any significant new contracts. Meanwhile competitors with products have signed many SIGNIFICANT carriage contracts with SIGNIFICANT cable companies. The only thing SRCM has managed to do successfully is raise money from the sale of securities. They appear to be in the PROMOTION & SECURITIES SALES business - NOT in the interactive TV business. Do you realize this company just borrows from Peter to pay Paul? They must borrow money just to pay the INTEREST on their debt!!!! Or sell more stock to suckers... COME ON!!! This is comical!!! Unless you happen to be one of the suckers that gave them money.... How long will it be before they can't borrow from Peter anymore, and they suddenly can't pay Paul? I think that day is fast approaching and that's why management is now scrambling so hard to promote this stock. I just can't figure out how they duped so many investors for so long? I'll give them this much - they are the kings of silver tongue sales and stock promotion to have suckered investors for this long!!!! More to come on SRCM's award winning securities sales and promotion business... All Comments Here Are Sincerely IMO