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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Bob Trocchi who wrote (17465)	12/21/1998 8:48:00 AM
From: Timoteo	Respond to of 18263

Bob- the quarter is far worse than I thought it would be. Still no Y2K revenue, now only a year away. Larger write-offs than expected. The way they dealt with the Matridigm merger (the hope of longs) also implies that there isn't much there other than smoke and mirrors. I see bankruptcy before next year is over- the large number of convertibles and other non-traditional financings makes a regular loan impossible, given their current financials. Maybe another floorless convertible preferred stock offering to some Cayman Island investors will keep it afloat a bit longer. I feel for the longs, but they should have done their DD and saw this coming. New target to cover: .25. Happy holidays! Timoteo