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Gold/Mining/Energy : Nuvo Research Inc

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To: SofaSpud who wrote (7590)	8/8/2001 1:45:50 PM
From: Montana Wildhack	of 14101

In the Feb quarter end the net loss on operations rounded was $3.5 million. The R&D, Admin, and Sales/Mktg expenses have all jumped the last 2 quarters. I'm looking at the cash flow neutral point. Using that quarter as a $3.5 million loss, and an estimated early direct cost for Pennsaid of 33%, we would have required shipments of: 3.5M x 1.5 = 5,250 approximately to have been cash flow neutral in the Feb 28 quarter end. This is one of the important considerations since it means the company sales just fund current operations. So using that actual data, DMX would have needed an annual rate of $21 million Cdn in Pennsaid sales at their level. The UK is estimated at $559 million Cdn. Once a company exceeds current cash flow needs (including capital equipment replacement), a new question is what is it going to do with the cash thats building. So what?? So these type of requirements are why I own this dead horse on the side of the road. We'll blow well through that number with Europe. And well before the EPS help me, my investment will be building cash quarter over quarter. Not to be under rated. Come on Belgium. Wolf

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