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Technology Stocks : Zi-Corp (ZICA), formerly MCUAF
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To: RockyBalboa who wrote (1482)9/22/1999 1:48:00 AM
From: Mad2  Read Replies (1) of 2082
 
Here's the verbage from the confrence call. Anyone look into warrant terms price etc..lock up etc....
mad2
THE SECOND SECTION I WOULD LIKE TO DISCUSS IS ZI'S CURRENT FINANCIAL POSITION. AS AT THE END OF THE FIRST QUARTER ZI HAD $3,281,000 CANADIAN DOLLARS IN CASH. WE HAVE BEEN OPERATING ON A CANADIAN DOLLAR BURN RATE OF BETWEEN $350-450,000 PER MONTH. WE HAVE RECEIVABLES OF APPROXIMATELY $1.7 MILLION CANADIAN DOLLARS OTHER THAN CURRENT PAYABLES THAT ARE UP-TO-DATE, ZI HAS DEBT OF $500,000 CDN WHICH IS REPRESENTED BY CONVERTIBLE NOTES AND THOSE NOTES ARE ALL NOW IN THE MONEY AND WE DO NOT EXPECT TO BE RETIRING THOSE CONVERTIBLE NOTES WITH CAPITAL. IN ADDITION, OUR RECENT RISE IN STOCK PRICE HAS GIVEN RISE TO WARRANTS AND OPTIONS BEING EXERCISED WHICH WE EXPECT TO HAVE NET PROCEEDS IN EXCESS OF $2.2 MILLION FLOWING INTO THE COMPANY BETWEEN NOW AND THE END OF SEPTEMBER. THERE ARE NO IMMEDIATE URGENCIES FOR CAPITAL
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