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Technology Stocks : CyberCash a buy?
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To: TLindt who wrote (3982)2/28/2001 4:19:21 PM
From: Jim Fraser   of 3990
 
Interesting (read: "fuzzy") math. My concern is one thing: funding. If they do not get funding (this week) to get through the merger and carry at least 3-4 more qtrs these guys are done. Here is some math for you: They had 5 mil at 12/31/00, their burn rate is about 5 mil/qtr, tomorrow is 3/1/01. They need funding in the next week or they will have to cease operations (that takes a couple weeks).

So far Wade has not impressed me much. I was pissed that he dropped the kick-off presentation in NY with no public explanation whatsoever, none. This sounds like previous management style. The fact they they don't have funding yet tells me that Wades new model does not seem to fly with investors. Also, if they were so sure that breakeven was near, they could borrow the money to get through this period.

Frankly with Meltons holdings and RGC now the major player I am surprised they can't put some package together, after all it is in their best interest. Perhaps they don't care anymore either.

good luck to you all
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