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Technology Stocks : IDT *(idtc) following this new issue?*
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To: Smear_campaign who wrote (16342)11/4/1999 11:35:00 PM
From: wl9839  Read Replies (1) of 30916
 
Smear,

I refer you to the discussion of Liquidity and Capital resources section of the IDTC MDA in the 10-K (page 43 and footnote 4 to the financials) which describes the bank facility entered into in May, the proceeds of which were used to buy out the public debt. Although the company then goes on to say that it has $130.8 mm of cash & cash equivalents on hand, it did not say that they had paid off the debt, which would have been required disclosure. My guess is that the cash represents advance payments and deposits for minutes, calling cards etc which are effective restricted until phone time is actually used.

I hope this is useful.

WJ
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