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Microcap & Penny Stocks : WaveRider WAVC NASDAQ ISP Wide Area Wireless Internet
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To: Larry Brubaker who wrote (1209)9/22/1999 11:29:00 PM
From: Zeev Hed  Read Replies (1) of 1848
 
Larry, but like any IR person, the E-mail writer had to put on the "best face" on the facts, and not give away all the facts. He should have stated his expectation of when positive cash flow will be achieved, how much more of the equity line will have to be drawn, where will they get money if they do not draw on the equity line, etc. He squirted all these critical issues. VLNC is actually engaged in a similar leaky floorless with their monthly draw down of $3 MM at the "then market" price. What puzzles me there is the fact that insiders are stepping into the breach to support the price (Berg two months ago, Shuggart last month), maybe an effort to slow down the bleeding until they finally get this significant PO (when the IDB kicks in). All these are dangerous high wire exercises, IMHO.

Zeev
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