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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: dexx who wrote (12987)	3/5/1999 6:29:00 PM
From: Pat MacD	Read Replies (2) \| Respond to of 25711

Breifly reviewed that sec document. The uncertainty of the future of this shell is in the hands of the preferred shareholders. I would want to understand their intentions. Which party holds the trigger to liquidate; the management of the shell or the preferred shareholders. What price did the preferred shareholders pay for their position. The performance of the company over the last reporting quarters was in steady decline and the prefs may just be happy to get out now and do they have faith in the present management. (or are they the same group)The value is simply the shell. The press release heading was quite misleading. Always read the entire release.

To: dexx who wrote (12987)	3/5/1999 7:05:00 PM
From: Wayne Rumball	Read Replies (1) \| Respond to of 25711

Sorry, I read it 4 times and can't understand it. Did lance write that? Company's liabilities other than $2.1 million in line of credit balances, which were paid off from proceeds at closing. The sale resulted in a gain on sale in excess of $3.0 million in the fourth quarter. 3M offered positions to most PACE employees and has assumed full support of the Company's customers. Post closing the Company will have minimal operating expenses and only two employees. The Company's post closing Balance Sheet reflects cash, including the escrow balance, in excess of $2.0 million with minimal debt. Tell em to send me their freakin balance sheet and I'll give you an opinion