GRIN (Grand Toys International Inc) Message Board

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Non-Tech : GRIN (Grand Toys International Inc)

GRIN 27.01

0.0%

Dec 2 3:59 PM EST

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To: Frank McVerry who wrote (459)	11/18/1999 11:06:00 PM
From: Kevin Podsiadlik	Read Replies (1) of 495

<< GRIN has no long-term debt (LTD) >> So what's this then? 5. Long-Term Debt The Company has long-term indebtedness in the form of a subsidiary's interest bearing subordinated promissory note in the aggregate principal amount of $1,500,000. Interest is payable quarterly, commencing April 1, 1999 at a rate of 5.76% per annum until June 1, 1999 and 9.75% per annum thereafter. The note is secured by a pledge of 375,000 shares of the Company's common stock. << so the cash accumulating through the August option exercise must be added, dollar for dollar, to this estimate for the business. >> Um, the 10-Q pretty clearly states a cash position of $280K, AFTER taking into account the $8 million from stock options. Care to make any other trivially refutable statements?

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