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Technology Stocks : Plaintree (TSE:LAN,NASDAQ:LANPF) -- Ignore unavailable to you. Want to Upgrade?

To: Charles Skeen who wrote (1452)	2/13/1999 10:36:00 AM
From: Bron-y-aur	Read Replies (1) \| Respond to of 1606

Another news article from today's Ottawa Sun: February 13, 1999 Plaintree survives deadline By SUSAN TAYLOR -- Ottawa Sun Long-suffering Plaintree Systems Corp. has dodged a bullet. The company -- which hit a self-imposed 30-day deadline to find funding yesterday -- said it will remain in business for the "short term." Recent layoffs of 50 staff coupled with custom design work and ongoing sales have extended the company's lease on life. But the Stittsville firm is still seeking life support from a partner or investor. Chief executive Colin Beaumont wouldn't specify how much money Plaintree has in the bank or how long that will fuel operations. "I don't want to comment on the window (of opportunity)," he said. "It depends on the revenues that we can generate." The company has one full-time employee and three consulting groups that are searching for equity investors. "We have a couple of very promising prospects on the table," said Beaumont. If either of those discussions were to conclude successfully, an announcement would come in the next 30-60 days, he added. The firm, which develops and manufactures local area network switches, has a workgroup switch in prototype development. But without a partner or new equity, Plaintree can't bring the product to market.

To: Charles Skeen who wrote (1452)	2/24/1999 4:44:00 PM
From: Bron-y-aur	Read Replies (2) \| Respond to of 1606

Latest: Guess no hope now with an accountant left to run the shop. See you at the garage sale. FEBRUARY 24, 1999Plaintree Systems Appoints Interim CEO - Board of Directors accepts resignation of CEO Colin Beaumont OTTAWA, ONTARIO--Plaintree Systems Inc. (NASDAQ: LANPF/ TSE: LAN) announced today that the Company's Board of Directors has accepted with regret the resignation of Colin Beaumont as CEO. Jay Richardson, a chartered accountant with broad international experience as a partner in Clarkson Gordon, Arthur Young Singapore and KPMG U.K. has been brought in as Interim CEO to lead the ongoing restructuring of the corporation and the search for an equity partner. Mr. Beaumont will continue as a director, and will function as Plaintree's Chief Technology Officer. A publicly held company founded in 1988, Ottawa-based Plaintree Systems develops and sells LAN switching solutions, maintaining a reputation for high quality products and technical support. This press release may include statements that are forward looking and based on current expectations. The actual results of the Company may differ materially from current expectations. The business of the Company is subject to many risks and uncertainties, including changes in markets for the Company's products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the Company's business, please refer to documents filed by the Company with the SEC and Canadian regulatory authorities, including the Company's prospectus dated May 20, 1997.