Ausdauer,
Please update me on the relationship between Toshiba and Lexar Media.
Below is a repeat post from Binx:
To: Ausdauer who wrote (9234)
From: Binx Bolling Saturday, Feb 19, 2000 11:13 PM ET
Reply # of 13956
Ausdauer,
You wrote, "Nobody with a modicum of intelligence would invest money in Lexar. It would require a total ignorance of the issues at hand (discussed in great detail in the registration statement) and a complete lack of knowledge of market forces in this industry."
This might explain why Toshiba is a shareholder in Lexar Media:
This smells like incest to me.
5% Stockholders
Toshiba America Electronic
Components, Inc............. 3,000,000
APV Technology Partners II,
L.P. .......................
Entities affiliated with St.
Paul Venture Capital, Inc.
Thomvest Holdings, Inc....... Ontario, Limited.....
GE Capital Equity
Investments, Inc. ..........
Transactions with Stockholders
Toshiba America Electronic Components, Inc. In June and July 1997, we
received a cash advance for working capital in the amount of $400,000 from
Toshiba America Electronic Components, Inc., a holder of more than 5% of our
common stock and, from May 1997 until September 1999, a shareholder with rights
under our articles of incorporation to elect a representative to serve on our
board of directors. The advance bears interest at a rate of 5.5% per year and
is payable in July 2000. As of December 31, 1999, the total amount outstanding,
including accrued interest, was approximately $406,000. We intend to repay this
advance with a portion of the net proceeds from this offering. Toshiba is also
the guarantor of a promissory note that we sold to MetLife Capital Corporation
in the aggregate principal amount of $348,423 which is more fully described
below. On April 15, 1998, we entered into a Consignment Agreement with Toshiba
for the supply of flash memory. In 1998, we purchased approximately $5.3
million of materials from Toshiba pursuant to this agreement and, as of
December 31, 1998, had payables to Toshiba of approximately $1.8 million. The
agreement had a one-year term renewable at our option, and we renewed the
agreement with Toshiba in April 1999. In 1999, we purchased approximately $18.5
million of materials from Toshiba, and as of December 31, 1999, we had payables
to Toshiba of approximately $3.4 million.
Binx says this smells like incest. |
