Confusion reigns at troubled video compression company InnovaCom Inc, whose shares dropped from a year high of 43/8 to a pitiful low of 5/16 on the announcement of the resignation the company’s chief executive officer earlier this month. The company is to sell its ASIC project and concentrate on digital video disk and digital television technologies. It hit rough waters when it’s CEO, Thomas E. Burke resigned on June 8, after just one month’s tenure. It appears to be pinning its hopes of recovery on a single chip MPEG-2 encoder, the DVImpact – it has even renamed its web site (http://www.dvimpact.com) after the product, although an identical looking web site exists under the URL http://www.innovacom-mpeg2.com – when we called the company, a spokesperson was not aware of the existence of DVImpact site and could not give details of when the product would be released.
