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Technology Stocks : LTX Corp. (LTXX)
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To: E. Graphs who wrote (1727)9/9/1999 11:04:00 AM
From: Duane L. Olson  Read Replies (1) of 2126
 
E! The need for capital was telegraphed in the Company's June 10-Q:
Quote: The Company has taken and continues to take significant steps to control and reduce spending and capital expenditures and
divest its non-strategic assets. The Company anticipates that these steps, combined with its working capital and its existing
credit facility will be adequate to fund the Company's currently proposed operating activities for the remainder of the fiscal year.
However, a significant shortfall from plan as a result of the Company's inability to ship products as scheduled or delayed
acceptance of the Company's new Fusion products would unfavorably impact the Company's cash flow. The Company may
require additional capital to fund anticipated growth in fiscal 2000. In that event, the Company would need to seek additional debt or equity financing. There can be no assurance that the Company could obtain the necessary financing.
The Company apparently had pledged all the assets of the company for a $10 million line of credit late last year...and they can raise $50-60 million in the secondary, loosening the ties more than a little....not to mention funding the capital improvements they likely will need to ramp up for y2000 production. Guess I will hold through the churn here, but was really looking forward to a blast upwards today...sigh!
tso
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