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   Technology StocksK-Tel (KTEL) Have the cheesy '70s records come to an end?


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To: Anthony@Pacific who wrote (2670)11/17/1998 11:27:00 AM
From: Pravda
   of 3203
 
KTEL's real deal with Playboy

From the 10-Q:

"In accordance with the agreement, the Company is required to make guaranteed monthly payments totaling $900,000 over the initial two year contract term that will be used to offset royalties to Playboy Enterprises, Inc."

Yes, I am short KTEL.

Pravda

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To: Pravda who wrote (2671)11/17/1998 11:32:00 AM
From: craig crawford
   of 3203
 
KTEL has to pay Playboy $21.6 million over 2 years? With what money? Where is it going to come from?

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To: craig crawford who wrote (2672)11/17/1998 11:34:00 AM
From: Anthony@Pacific
   of 3203
 
Ktel to Zero....they bit off way too much to chew.....Apparantly noone has Bloomberg except for me??

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To: craig crawford who wrote (2672)11/17/1998 11:35:00 AM
From: TokyoMex
   of 3203
 
Better dump it ,,

K-Tel Faces Delisting by Nasdaq, Says It Will Seek Hearing

K-Tel Faces Delisting by Nasdaq, Says It Will Seek Hearing
Los Angeles, Nov. 17 (Bloomberg) -- K-Tel International Inc. said it's been notified by the Nasdaq stock market that it fails to meet the minimum tangible net asset requirement for trading on the national market and faces delisting.

The Internet music retailer requested a hearing before the Nasdaq listing qualifications panel to obtain a temporary extension to the requirements and a chance to raise additional capital to meet them. ''There is no assurance the company will be successful in its attempt to remain listed on the Nasdaq stock market,'' the company said in its quarterly filing with the Securities and Exchange Commission.

In the first fiscal quarter ended Sept. 30, K-Tel's loss widened to $3.1 million, or 37 cents a share, from $1.2 million, or 15 cents, a year earlier. It had negative cash flow from operations of $4.9 million in the period.

The company said it had $72,742 remaining in a revolving credit line on which it had already borrowed $5.2 million.

The company said ''it expects to be out of compliance with the tangible net requirement (of the credit line) until the company achieves the necessary level of profitable operations, obtains an equity placement infusion or further modifies the covenants.''

It said it had amended some covenants on the credit agreement and had received waivers on others.

Minneapolis-based K-Tel's stock rose 1 to 18 5/8 in mid- morning trading. It had been has high as 21 1/4 earlier.

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To: TokyoMex who wrote (2674)11/17/1998 11:45:00 AM
From: Rajiv
   of 3203
 
From the 10-Q

On May 1, 1998, the Company launched its new Internet service, K-tel Express (www.ktel.com), featuring a wide spectrum of music products for purchase by the public around the globe.
Revenue generated from K-tel Express through September 30, 1998 has not been material.


KTEL's webpage exists to help the insiders sell stock and not for the company to sell CD's

Regards.
Rajiv

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To: craig crawford who wrote (2672)11/17/1998 11:50:00 AM
From: Paul A
   of 3203
 
what I find really amazing about KTEL is its still being played.. I actually just hit it for a point in 1 minute as it bounced off the selloff.. Yeah, im nutz but I was betting that it would still be played regardless and I was right..

People will be trying to trade this thing even when the company is completely shut down.. I cant believe it, but I could really care a less..

100k lined up on the bid as we speak.. im done once again.. seeyaa!

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To: Anthony@Pacific who wrote (2670)11/17/1998 11:52:00 AM
From: Louis Riley
   of 3203
 
BOB PISANI WILL BREAK STORY ON CNBC SOON:
FROM BLOOMBERG:

<< K-TEL SAYS IT FACES NASDAQ DELISTING, TO SEEK HEARING

BN STORY TO FOLLOW. That story will be accessible under the following tickers and industry codes: KTEL US CN (Company News and Research) NI EXC (News by Industry, Category, or Region) NI NASD (News by Industry, Category, or Region) NI US (News by Industry, Category, or Region) NI COS (News by Industry, Category, or Region) NI MED (News by Industry, Category, or Region) NI ENT (News by Industry, Category, or Region) NI CA (News by Industry, Category, or Region) >>

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To: Louis Riley who wrote (2677)11/17/1998 12:03:00 PM
From: Jonathan C. Williams
   of 3203
 
Don't cover your shorts. Cover at .05/share when the company is delisted.

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To: Louis Riley who wrote (2677)11/17/1998 12:10:00 PM
From: Pullin-GS
   of 3203
 
KTEL on CNBC this very second...tankage...

Faber to do KTEL piece in one hour.

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To: Pullin-GS who wrote (2679)11/17/1998 12:28:00 PM
From: MR. PANAMA (I am a PLAYER)
   of 3203
 
Lets DA MUSAK PLAY.....hey hey hey who did not pay da power bill...hahahahaa

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