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Technology Stocks : Coyote Network Systems (CYOE), Mixing It Up, IP and ATM -- Ignore unavailable to you. Want to Upgrade?

To: Ben Wa who wrote (250)	3/25/1999 10:06:00 AM
From: Q.	Read Replies (1) \| Respond to of 360

oh, this was a damaging news release re. Systeam and the loan: the loan hasn't actually happened, and the Systeam deal is on hold, presumably because they have no cash. Funny that they had previously announced that 'Coyote Network Systems Received a Commitment for a $10 Million Loan' This didn't turn out not to be much of a commitment after all. You don't suppose they announced that just to react to the TSC article earlier that day claiming the co. desperately needed cash? Nah. Also funny that they had previously announced that 'WESTLAKE VILLAGE, Calif., Feb. 10 /PRNewswire/ -- Coyote Network Systems (Nasdaq: CYOE - news) today announced it has signed a definitive agreement to acquire controlling interest in Systeam S.p.A.' I wonder how the company defines 'definitive'. WESTLAKE VILLAGE, Calif., March 25 /PRNewswire/ -- Coyote Network Systems, Inc. (NASDAQ:CYOE) today announced that Systeam S.p.A. has agreed to extend to March 29 the date by which Coyote could increase its equity position in Systeam. Under the terms of the revised agreement, Coyote now has the option to either increase its equity position from 9% to approximately 15% for $1.5 million, or to increase such position to 60% by making an investment of $5 million and 880,000 shares of Coyote common stock. The Company plans to finance the acquisition with the proceeds of its loan commitment; however, such proceeds have not yet been received and there can be no assurance that they will be received.