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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE! -- Ignore unavailable to you. Want to Upgrade?


To: WW.com who wrote (29873)11/7/1998 12:24:00 PM
From: Marshall  Read Replies (1) | Respond to of 33268
 
WW, you know I've talked to you and you know we have a mutual friend I converse with often.

I'm an electronics guy and when the Senior Engineer (recently retired) from SW Bell gets all excited about it when I first told him and then told me that AT&T had decided this was the way to go it just went from there. Unfortunately at the time the modem speeds and the other semiconductor technology just wasn't up to speed yet to make it happen and the CELP voice compression was in its very early stages.

Jem - if I were a spokesman for the company I have a feeling I'd be leading a little better life. About all I own of value is a new car and some Snap-On tools - both of which I'm making payments on.

Now I've got to head off to work on Saturday and will likely work until 10 PM again.



To: WW.com who wrote (29873)11/7/1998 12:45:00 PM
From: drakes353  Read Replies (2) | Respond to of 33268
 
Willie:

You and Marshall really need to get on the same page here. Not 48 hours ago he was saying RACE was not out of compliance and here you are saying this is nothing new.

the ONLY material difference is one sentence " the Company has received notice of non-compliance from Nasdaq and the Company intends to request a hearing with Nasdaq in accordance with Nasdaq procedures" which is included in the 11/6 S-3/A and wasn't previously part of that section of the previous filings....so what! It is not a surprise. The stock price was below $1. for a few days....now it is $4. ...

So what? Well RACE is a step closer to getting delisted. That's a pretty big 'so what'. Based on your statements it appears you do not understand what is going on here. The current non-compliance bit has nothing to do with the price of the stock but has to do with RACE's net tangible assets (aka stockholder's equity). Their NTAs are below the minimum required for continued listing on the Naz. RACE will need to raise additional money ASAP to ensure continued listing on the Naz. I should not have to remind you that RACE's history of raising capital with terms that were, um, beneficial to the current shareholders is pretty poor (i.e. the current shareholders usually get screwed when RACE needs cash).

With RACE on the brink of delisting the convert vultures will be cruising in lazy circles over ol' San Antone. Don't be surprised if RACE has to mortgage their intellectual property in a last ditch effort to stay afloat. For those that are interested a look at The Panda Project's (PNDA) last stand might be in order.

drakes353

PS: Interesting that they filed that S-3/A yesterday. In toxic convert land that usually means the conversions will begin in a couple of weeks. Guess it's time to take a hard look at those conversion terms.