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Non-Tech : Play-by-Play Toys and Novelties (pbyp)
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To: peter michaelson who wrote (128)11/16/1999 1:04:00 PM
From: Dako   of 132
 
A few more scary facts:

1) The Q4 operating loss after backing out the write-offs was about 40 cents/share, compared to the 5-10 cents PROFIT that the company estimated AFTER the close of the quarter back in August.
2) The revenues in the quarter were $36.7 million, compared to the estimate of $40-42 million in August.
3) The company only has $1.4 million left on its new credit facility as of Oct. 31. This is the time of LOWEST capital needs.
4) The company will have to be making cash payments on license minimum guarantees that it doesn't expect to meet with incoming sales dollars.
5) The convertible bonds will almost certainly have to be refinanced by this June, per the terms of the re-negotiation.

There is much more. This company has bought some time but remains on a respirator. The stock is headed lower, without any serious buying conceivable aside from short covers.
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