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Non-Tech : GRIN (Grand Toys International Inc)
GRIN 27.010.0%Dec 2 3:59 PM EST
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To: Frank McVerry who wrote (468)11/23/1999 9:34:00 AM
From: Kevin Podsiadlik  Read Replies (1) of 495
 
$19 million? Where did that come from?

GRIN had already received $8 million from the option sale as of 9/30, and based on the snippet below it sure looks to me as if you were expecting $11 million MORE in exercises in Q4, in order to reach that $14 million cash figure:

My year-end estimate of GRIN's cash position in more detail:

Option exercise $11M (assumes a complete option exercise by year-end) Estimated 1999 net earnings $2.3M
Cash sheltered under depreciation $0.55M
Interest saved on credit line in 4Q from option money $0.2M
Total = $14M


And, to repeat myself, from the 10-Q, GRIN cash position is KNOWN to be $280K as of 9/30, with, as you have just admitted, only $3 million in options still unexercised.

So where is the other $7.7M coming from then?
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