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But Anyway

01/17/03 2:59 PM

#26536 RE: CDR #26526

CDR the point is this:

It would be nearly impossible not to "improve" from the base used for comparison purposes.

The retail model burned through nearly all the company's cash, resulted in substantial dilution and encumbered the company in debt, accounts payable and accrued liabilities that may take a year or more to work through.

Yes the company converted the debt to equity, but in doing so they have effectively sold out their common stock holders. It was a pseudo-bankruptcy restructuring without the official filing as their creditors will never force bankruptcy as the assets of the company are for all intents and purposes worthless.

I'm interested in observing how e.Digital management tries to guide the company through the current storm. Essentially I am waiting to see if they eventually turn around and adopt a policy that is beneficial to shareholders opposed to their decade-long policy of exploiting their shareholders. In other words, I am waiting to be surprised- and that doesn't mean announcing some new version of their software or hooking an OEM for 10,000 units.

Until then this is nothing more than a hobby shop for Norris' friends and family- financed entirely at a cost to the individual shareholder.

http://www.investorshub.com/boards/read_msg.asp?message_id=661266