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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV
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To: mike.com who wrote (13078)5/1/2002 12:50:11 PM
From: richard badauskas   of 13157
 
I care because I believed in and invested in the "new" management when they said that they would cut expenses and only do profitable deals. These comments were made several quarters ago and repeated during conference calls. The last reported December quarter shows revenues of $2.9M less selling and admin costs of $10.4M and less $2.4M other expenses (?).

So it costs $12.8M to generate sales of $2.4M. The joke here is that management actually considers this to be an achievement!! In the last conference call Reese said that the current quarter expenses would get heavier due to the Disney litigation. I dumped my stock at a great loss due to this comment. I was foolish enough to believe that an attempt would actually be made to get a grip on the massive amounts of cash gushing out the financial door. This cash drain continues along with the collapsing stock price. IMHO the stock will continue to head south until someone decides to stop this massive cash burn. IMHO the NASCAR deal will only increase the cash burn in the next few quarters and contribute only a small amount of cashflow. This is not what I expected from management. I honestly expected that cash outflow would be cut very sharply and revenues to rise very modestly. Until this happens this stock will continue to remain very weak. IMHO we may see 50 to 75 cents in the next few months (especially in a weak market for techs) if the current spending binge continues.
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