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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end? -- Ignore unavailable to you. Want to Upgrade?

To: stock leader who wrote (2824)	11/21/1998 7:51:00 PM
From: Axxel	Respond to of 3203

Company News Search Company News Lookup K-Tel Falls for 2nd Day as It Faces Nasdaq Delisting (Update2) K-Tel Falls for 2nd Day as It Faces Nasdaq Delisting (Update2) (Updates with closing share activity.) Calabasas, California, Nov. 18 (Bloomberg) -- K-Tel International Inc. shares plunged 16 percent, falling for a second day after the music retailer was told it fails to meet a key requirement for trading on Nasdaq's national market and faces delisting. Calabasas, California-based K-Tel, known for its late-night TV ads pitching the Veg-O-Matic and music titles such as ''Hooked on Classics,'' fell 2 to 10 after sliding 32 percent yesterday. K-Tel said yesterday it received a warning letter from Nasdaq last month saying that the company didn't meet its tangible net asset requirement. Nasdaq requires at least $4 million in net tangible assets, or assets excluding goodwill minus liabilities. K-Tel said its level is about $1 million. ''I don't want to be associated with this stock,'' said analyst Axxel Knutson, head of Axxel Institutional Services. He had a ''sell'' rating on K-Tel before he dropped coverage. K-Tel shares have been swinging wildly since the company entered the online retailing business in April. K-Tel has fallen 70 percent from its record high of 33 15/16, reached four days after starting its World Wide Web site ktel.com. Analysts said K-Tel shares ran up on Internet speculation, and its low net assets and possible delisting signals more fundamental problems. K-Tel has a hearing scheduled before Nasdaq in January to seek time to raise additional capital and meet the requirements, said Lawrence Kieves, who was named president in October after David Weiner left in September. © Copyright 1998, Bloomberg L.P. All Rights Reserved.

To: stock leader who wrote (2824)	11/22/1998 3:06:00 PM
From: StockDung	Read Replies (2) \| Respond to of 3203

Ktels founder sold 37 million dollars worth of stock. What is 5 or 6 million dollars to him if he bought some convertible stock so they could meet the Nas requirements? It would be nothing compared to those class action suits taking it all away. Ktel could say it was in their plans all along and he could sell more stock anyway after the shorts have been squeezed to $30 or $40 a share. Remember this post when the shorts enter the KTEL short suicide pool. floyd