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Technology Stocks : Orckit (ORCT)
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To: Daniel Ralls who wrote (1524)10/17/1998 7:29:00 PM
From: savolainen   of 1998
 
[secondary]

hi daniel,

the increase in shares was mostly due to the secondary: Orckit issued something like two million new shares, and raised close to $36 million.. that cash is now providing a little cushion for the situation moving forward..

this was discussed tangentially in the cc:

"..is there any reason to think that you might have to come back to the market at any point in time in the next 12 to 18 months?

not at all... we did the offering four months ago explaining that we need the money just to make sure that if we win dt and other accounts until the cost reduction is completed we have enuf cash and we don't have to worry about money when we invest so much in cost reduction.. "

thanks for posting the detail from the analyst reports, will try to take a look at your numbers/speculations and will post maybe tomorrow.... and yes dt is thru the end of 99..

best wishes
s
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