ICOM: Investment Discussion Message Board

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Technology Stocks : ICOM: Investment Discussion

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To: JimBeamII who wrote (418)	3/23/2000 10:45:00 AM
From: JimBeamII	Read Replies (1) of 494

Analysis of the 3/16 financing package announced by ICOM (http://biz.yahoo.com/prnews/000316/tx_intelec_1.html) by a long-term ICOM holder, and pretty sharp guy. This was copied from the RB board. Just want to add my take by: rpalladin 3/16/00 Posted this on the RB board thought I's post it here as well becasue the deal is awesome!! My take on the news. 1. There was 4.6M shares for 27.6M. That is $6 per share not bad for a company that had to issue shares at $2.4 per share in Jan. 2. The people that came up with 27.6M are not in the business of losing money so I would assume they were convinced it was a good investment regardless of the dilutive effects. 3. Because of the retirement of preferred shares that could have been redeemed for over 3M shares the net diluton is really only 1.3M shares. Basically they leveraged their cash in our (stockholders favor) 4. By paying down the revolving credit line they now have no interest and no debt whatsoever. 5. After all this stuff ICOM HAS NO DEBT AND $20M IN THE BANK. Not bad people and this for less than 3% additional shares. NOT BAD AT ALL IMO then ICOM has gotten completely out of the financial hole the Korean crises created. They are free to do business like other start ups with money in the bank and no debt. One should feel very confident that this company has an exceptional CFO!! Good luck to all longs

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