Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: REW who wrote (10036)	11/18/1998 10:50:00 PM
From: Tompj	Respond to of 44908

11/18/98 will be an interesting day for all of us. I have been down and am still down on TSIG but feel very good tonight. No matter where this stock goes in the next few weeks, news, deals and revenue will continue to make it go up. I think if you hold now you will be rewarded. Ask yourself a few questions.... 1. Have you used the site and received CD's? 2. Did you have a good experience? 3. Do you think people will buy CD's in this manner? 4. Who else has unique traditional/internet/fundraising marketing strategy? FOOD FOR THOUGHT

To: REW who wrote (10036)	11/18/1998 11:48:00 PM
From: cicak	Read Replies (4) \| Respond to of 44908

Bob, BIG NEWS !!!! The word is definetely getting out. This is a copy of an article in today's TheStreet.com put out by James Cramer. This is a major internet publication followed by hundreds of thousands of people. And hell, everybody knows James Cramer. He was even on the cover of Business Week with other renowned investors a few weeks ago. Did I see our little baby mentioned ??? ==================================================================== Top Stories: K-tel Faces Nasdaq Delisting By Gregg Wirth Staff Reporter 11/17/98 3:57 PM ET As goofy singer Ray Stevens might warble on one of K-tel International's (KTEL:Nasdaq) compilation albums: "Here he comes! ... There he goes! ... And he ain't wearing no clothes!" The ultimate streaky stock, K-tel was left looking naked today as it said in a quarterly filing that it was facing possible delisting by the Nasdaq Stock Market because the company doesn't meet tangible net asset requirements for trading on the exchange. Minneapolis-based K-tel was notified about the possible delisting three weeks ago by letter, but did not disclose it until today's quarterly filing. Larry Kieves, K-tel's president, says he didn't believe the possible delisting -- which would drop K-tel to the much-less-prestigious Nasdaq Small Cap Market -- was a "material event" that required disclosure. "I think because of the increased attention our stock has received, people are making a mountain out of this," Kieves says. Kieves blames a previous disclosure incident that he now calls a "mistake" for the heightened attention that the possible delisting is getting. On Nov. 3, the company announced in a press release that Kieves had been named president. However, the release came well after Kieves was hired in mid-October and former President David Weiner had left in September. "That was a screw-up," Kieves says, adding that the company was criticized by Nasdaq for not disclosing the management change sooner. In this latest case, K-tel has asked for and received an extension to return to compliance and will report back to the Nasdaq at a hearing in January, Kieves says. "We just need capital," he adds. "This will not be a problem; we have a lot of options open." Some of those options include a stock offering, a private placement or the sale of an equity stake. Kieves would not comment on specific plans, but doubted the situation would be difficult to resolve. "Since this announcement, guys have come out of the woodwork to offer us oodles of money," he says. The specific asset hurdle K-tel failed to clear was a requirement to maintain tangible net assets of at least $4 million. Tangible net assets are defined as total assets, excluding goodwill, minus liabilities, according to Nasdaq's rules. If a company falls below the required level for 30 consecutive trading days, Nasdaq notifies the offender that it may be delisted. A Nasdaq spokesman would not comment on K-tel. Besides the possible delisting, the quarterly filing contained other disappointing news. Sales dropped 25% in the most recent quarter from a year ago. The quarterly loss of $3.1 million, or 37 cents per share, reversed year-ago net income of $1.2 million, or 15 cents per share. Shares of K-tel were dropping as the news about the possible delisting made its way out. The stock, which closed at 17 5/8 yesterday, edged as high as 21 1/4 today but was off 2 1/4 at 15 1/16 this afternoon on heavy trading. The stock has been one of the more volatile of the recent bull run-up. It climbed as high as 39 15/16 in May, but then retreated before roaring back earlier this month. It more than tripled in three days through Nov. 11, climbing as high as 39 1/8. On Friday the 13th, however, K-tel began slipping and has now dropped by more than half since the recent high point. On the stock message boards, few people seemed surprised or broken up by the news of K-tel's possible delisting. On Silicon Investor, Anthony@Pacific, a self-described "Nasdaq short seller and Corporate Investigator," busied himself by posting K-tel's bad news to several different threads. Meanwhile, others had moved onto other would-be Davids hoping to topple Web Goliaths with their music Web sites: TeleServices International Group (TSIG:OTC BB), operator of the Compact Connection, and Global Media(GLMC:OTC BB), which put out a press release today announcing its intention to sell CDs and videos over the Internet. Quoting the release on Yahoo!'s board, one poster named "OUOB" added, "There's more and it's all bad for K-tel."