Data Race Inc. (fka RACE)

[Wayne R]

Have you spoken with them?

Maybe they cleaned all that up, maybe they didn't. Better to have facts than speculation....

[drsilicone]

no need to get nasty -- point is a valid SHELL should have idled operations not bankruptcy, potential lawsuits, liens, $0 declared par value on O/S -- I see no statements putting to rest old emcumbrances -- ie non-reporting as well... doesn't make sense that a valid operation would choose a shell like this other than they are willing to pay huge for the name on the stock.. ie RACE.

[rooterjack]

RACE is doing nice 1 left to 0.007 hod

[Churak]

r u sure it weren't from a shell?

[olico ™]

lol!

[olico ™]

figures

[Wayne R]

my mother's womb here

[Churak]

where do you guys come from??


Toronto, here

[rooterjack]

Its running its all about momo ur right

[JamesB]

so 2 Wayne Rumballs (god help us) and both collect shells, hmmm, coincidence, I think not

[Wayne R]

funny you should say that. There is another Wayne Rumball. He lives in Australia. He collects shells, sea shells

Pretty Ironic

[Wayne R]

try reading here;
http://www.shellstockreview.com/ssr-Home.html

then you'll understand the value

[olico ™]

lol! ur not a smart one r ya? Its a SHELL company now.......lol!

where do you guys come from??

[JamesB]

Prolly thinks a shell is something you find at the seashore

[Wayne R]

Um, I believe I said it appears to be a shell

[Churak]

does it matter? da pig is running...lol

[drsilicone]

so how does that make these shares worth any part of the company's assets -- delcared at NO VALUE and in Bankruptcy with Creditors owed millions??? A buy-out simply means I can buy the company for $1 -- that does not mean 37mm O/S own my $1 -- it would be called taking the company private! -- but I like how these things pop up and people start buying shares like crazy..... I got some land in Florida for sale too...

correct me if I'm wrong but.... why would anyone buy these shares?

[rooterjack]

They are being r/m with another company , its being bought out :)

[rooterjack]

I heard it was true next week to be finalized :P

[drsilicone]

Uhhmm. WORTHLESS????

Item 3. Bankruptcy or Receivership.

DATA RACE, Inc. (doing business as IP AXESS) on June 28, 2002, filed
Chapter 7 of the Bankruptcy Code in the Northern District of Texas, Case #
02-35423 HCA. The Trustee is John Litzler. The number of common shares
outstanding with no par value was approximately 37,353,000. The value of the
assets (liquidation value) was $338,000 and the value of the liabilities was
$5,103,304. The value of the assets at liquidation value were as follows:
Item 4. Household goods and furnishings $20,000
Item 26. Office equipment furnishings and supplies $45,000
Item 27. Machinery, fixtures, equipment $8,000
Item 28. Inventory $250,000*
Item 33. Other personal property not listed $15,000

* Detailed listing is in Exhibit No. 3 of the Summary of Schedules.

The value of the liabilities were as follows:
Creditors holding secured claims $2,127,000
Creditors holding unsecured priority claims $235,736
Creditors holding unsecured nonpriority claims $2,740,568

These values were submitted to the Bankruptcy Court.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

DATA RACE, Inc.


Date: August 26, 2002 By: /s/ James G. Scogin
-------------------------------
James G. Scogin,
Resigned Officer

[Wayne R]

Amazing. Wonder if there is any truth to it

[JamesB]

I just heard the same rumor

[Wayne R]

Cool, would be nice if it is true

[rooterjack]

O/s is 60 million on RACE

[rooterjack]

RACE im hearing r/m in the works for next week