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

To: Phil(bullrider) who wrote (1610)	11/14/1998 11:33:00 AM
From: Pluvia	Read Replies (1) \| Respond to of 3015

Phil, Ever Notice That When Reality Rains, Our Long Buddies Get Real Quiet? Nothing like scoring 5 touchdowns on the opponents home field to quiet the crowd. 1. Fraudulent, Bogus Conference Call So That Only SRCM Shills Can Ask Patsy Questions... The conference moderator (Erin), is instructed by SRCM not to take any other callers questions but she should announce during the call that if any callers want to ask a question, they should dial 1-4 on their phone... Thus the call was made to look like no other questions existed, and due to the "set-up" patsy questions, the company was doing very well... 2. Company states with great fanfare that cash burn is down to 3 million... But The Cold Hard Reality (from the Q), shows SRCM "dressed up their numbers" by not paying $2.5 million in bills during the quarter which artificially made their cash burn $3 million instead of $5.5 million, and their operating capital $2.5 higher than it should be... 3. The real cash burn and operating capital numbers show SRCM could be out of money and bankrupt by the end of Q1, 1999, and that the K will most certainly contain a statement from the auditor that the company is a high risk to continue as a going concern.... 4. SRCM has $100,000,000 of debt at 12% and no revenue, product or business plan that shows how they could ever produce enough revenue to be able to meet interest payments after the remaining 3 escrowed interest payments are paid. 5. SRCM admits that they are giving away their only working product to Insight Communications for SRCM's much hyped "digital interactive television debut". But the reality of the matter suggests SRCM is begging cable operators to take their product for FREE - and they still can't sign up any cable companies. The admission by SRCM that they are giving the product away for free suggests that their press release on this matter (which failed to state this important material fact), was made to artificially inflate the price of the stock. Because of this, any new cable company contracts will be dismissed as ridiculous HYPE because history now shows not only are SRCM's management team prone to distort the truth and fail to disclose material facts, but they can't get any cable company to buy their product and they can't even get cable companies to take the product for free!! Ahhh nothing like cold rain in November eh MW? Sleep Well Boo Buddy, this stock gets crushed next week. Take care Phil - we gonna have fun with this one... All comments IMO Cheers Steve