Reading 10 - Answers
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1.true
The company's name is Wagnarox. ("...IT firm Wagnarox ..." ); and it was named after its creator, Jerry Wagnarox.

2.true
"The news came as a shock ...".

3.false
Mr Springer works for one of the companies that lent money to Wagnarox.

4.true
Market research showed that people did not want TV material on their computers.

5.false
Wagnarox wanted to give computers a way of showing Tv, not of being replaced by TV.

6.true
The creditors "hedged their bets" by also putting money in the sort of company that Wagnarox was meant to replace. This shows that they were not sure that Wagnarox would suceed.

7.true
Wagnarox was borrowing money, and telling creditors that they could have Wagnarox shares if the money was not repaid. As the shares were worth less, so was the amount of money Wagnarox could borrow.

8.false
Since Wagnarox is out of business and in debt, the shares are now worth even less than 1.7p - in fact they are worthless.

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