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Technology Stocks : OBJECT DESIGN Inc.: Bargain of the year!! -- Ignore unavailable to you. Want to Upgrade?

To: GUSTAVE JAEGER who wrote (2427)	10/21/1998 2:24:00 PM
From: kermagoret	Respond to of 3194

Versant Results Versant results seem to be worse than expected, one issue seem strange to me : it seems that VSNT is chasing some big deals is ODIS involved in tehes deals? Or is it the usual VSNT excuse for a bad quarter. Versant Announces $3.6 Million Convertible Note Financing and PreliminaryThird Quarter Results; Estimated Revenues of $5.7 to 5.9 million; Net Loss Of $.39 to $.44 Per Share Expected for Q3, 1998 October 19, 1998 04:15 PM FREMONT, Calif., Oct. 19 /PRNewswire/ -- Versant Corporation VSNT announced today that it has raised $3.6 million through the private placement of a Convertible Secured Subordinated Promissory Note. The funding was provided by Vertex Technology Fund Pte., one of the funds managed by Vertex Management. Funds associated with Vertex Management have invested in Versant since 1989. "This financing provides Versant with needed working capital," stated Nick Ordon, Versant's Chief Executive Officer. "We are pleased in the continued confidence that Vertex has expressed in the Company by providing this round of financing." The Note issued to Vertex is convertible at Vertex's option into common stock of the Company at a price of $1.925 per share. Versant currently has approximately 9,450,000 shares of common stock outstanding. The Note is secured by the assets of the Company, is subordinated to the Company's existing lines of credit and is due in October 2001, but may mature or be automatically converted sooner under certain circumstances. Vertex has agreed not to sell its interest in the Note or underlying common stock for a period of six months from the closing. Neither the Note nor the shares issuable upon conversion of the Note have been registered under the Securities Act of 1933, as amended, and the Note and such shares may not be offered or sold in the United States absent registration or an exemption from applicable registration requirements. Versant has agreed to file a registration statement for the resale of the shares of Versant common stock issuable upon conversion of the Note. Versant also announced today that it expects total revenues for the third quarter ended September 30, 1998 to be approximately $5.7 to $5.9 million as compared to $6.6 million for the second quarter of 1998. This represents an approximate decrease of 14% to 11% respectively, from second quarter 1998 revenue. The Company expects to report a net loss of between $.39 and $.44 per share for the third quarter of 1998, including a net loss of between $.03 and $.05 per share associated with certain in process research and development costs to be written off as a result of the acquisition of Soft Mountain, a French software development company. Net loss for the second quarter of 1998 was $.33 per share. The Company attributes the decrease in third quarter 1998 earnings to a license revenue shortfall resulting principally from the timing and inherent uncertainty of large project opportunities upon which the Company's operating results depend.

To: GUSTAVE JAEGER who wrote (2427)	10/22/1998 8:32:00 AM
From: Edward F. Horst Jr.	Read Replies (1) \| Respond to of 3194

Yes, thanks for finding the release. What continues to perplex me is how ODIS continues to improve it's position in these emerging and rapidly growing markets, yet doesn't seem to get any reflection in it's valuation going forward. I can't believe money managers and analysts can be missing this evolution, like they are. They seem to have pigeon holed ODIS as an ODBMS vendor which can't grow or succeed? Valuations are based upon "forward looking potential and projections"! As for SUNW targeting ODIS, seems that either they or MSFT would want to control this technology which is moving even a small player into such positions of future market leadership????????