TECHNOLOGY - June 30, 1992
Compiled by Dean Takahashi, Times staff writer
MAI Obligations: MAI Systems Corp., a struggling seller of business computers and software, said it has not maintained a minimum net worth required under its subordinated debt agreements.
As a result, the company, based in Tustin, has exchanged $10 million in notes to satisfy its obligations to holders of its 11.75% senior subordinated notes due Sept. 15, 1996, said Bert Weidberg, general counsel for the company.
Meanwhile, Weidberg said, the company continues to look for a buyer for its Central European operations in Germany, Switzerland and Austria. MAI Systems hopes to raise money to pay down its debt.
