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November 16, 1994

AUDITORS QUESTION DATAPOINT’s ABILITY TO REMAIN A GOING CONCERN

By CBR Staff Writer

Datapoint Corp has lingered on following the debt-laden buyout engineered way back in 1984 by Asher Edelman, but the San Antonio company has never really recovered from the shock to its system, and following a devastating $85m fourth quarter loss after charges (figures, page seven) the company’s auditors are questioning the company’s ability to continue as a going concern. Datapoint is trying to shed assets that it deems unnecessary to its ongoing operation and effecting capital infusions to meet near term obligations and provide near-term working capital. The former include a $2.9m interest payment on its 8.875% convertible subordinated debentures due December 1. In Europe it suffered a 16% fall in sales and an overall decline in cash flow for the second year in a row. It plans to cut its European staff but gave no details.

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