CompuServe Messages

I'm glad to hear that somebody else has heard… Commodore has finally posted last year's q4 (ended June 30) and this year's q1 results (four months late!). They lost $356 million last fiscal year, and lost $9 million the first quarter of this year. Shareholder equity has dropped from ~$250 million to NEGATIVE ~$56 million. They are in default on $33 million in loans from institutional investors and are having accounts frozen and/or legal action taken by suppliers (i.e., people who C= buys parts from on credit who C= isn't paying). Of course, C= sometimes writes the reports so that they sound as good as possible and sometimes writes the reports so that they sound horrible. The facts are bad, but things were written to sound even worse. C= stock will likely drop dramatically this week — I'd bet on seeing it under $2. I wouldn't be suprised if someone wanted it that way so that they could buy low and take advantage of what they suspect will be a much rosier q2 report.