Mike, I am blown away by your findings.
It appears as if the latest registration statement by Lexar is even more full of goodies than I anticipated...
Here is how I see it (IMHO)...
"We had to borrow money from Sony to purchase addition flash chips and other capital purchases to support upcoming Memory Stick production."
"...up to 179,211 shares of our common stock that we would issue to Sony upon conversion of the $2.0 million convertible promissory note that we issued to Sony in March 2000, assuming an initial public offering price of $12.00 per share."
"Simple Technology, Hitachi and Mitusbishi sold our products under private label in 1997."
Product sales in 1998 were primarily to customers in the United States (74.6%) and Japan (19.3%). Four customers,
Kodak, ADTEC, Ingram Micro and Viking, accounted for 24.6%, 18.1%, 13.2% and 10.6% of product sales in 1998. Three customers, Simple Technologies, Hitachi and Mitsubishi, accounted for 47.8%, 20.4% and 14.9% of product sales in 1997. We recognized $1.0 million in development fees in 1997 from three major semiconductor manufacturers.
Will Hitachi and Mitsubishi be encompassed in any decision against Lexar based on these facts?
Ausdauer |
