NStor Technologies Corp is so keen to tell the world that it’s still a going concern that it is reporting on revenue increases it’s seen in the first two months of its second quarter. Business totaled $3.8m, compared with $1.6m in the first two months of the company’s first quarter. Revenues for the complete first quarter totaled $3.5m, but the company showed a loss of $2.5m. Nstor told its annual shareholders meeting earlier this week that the rising revenues would mean improved operating results once it does report the full figures, and said it had now secured adequate financing to satisfy the company’s projected operating requirements for the balance of 1998. Nstor fired its chief executive officer after the first quarter results were revealed (CI No 3,417). The Lake Mary, Florida-based RAID storage company, which started life as Conner Peripherals Inc’s Storage Systems division, acquired Borg Adaptive Technologies Inc back in April (CI No 3,396), and says that Borg’s patented Adaptive RAID technology will be an important part of its recovery plan. We have already been contacted by several major technology companies which are interested in selling our Adaptive RAID products when they become ready for market towards the end of the year, nStor’s director of engineering Steven Bush told the shareholders.
