Ooops. I was wrong. RMBS actually has 92M in cash at end of Mar2001. Not 138M as I thought.
biz.yahoo.com
biz.yahoo.com
biz.yahoo.com
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In their last Q1, their total royalties is : 26M
For all of 2000, their total royalties is : 32M
For Q3 of 2000, their royalties revenue was :6M
1. I'm assuming 25% of 2000 royalties are DDR and SDR = 8M
2. I'm assuming 66% of Q1 (may) royalties are DDR and SDR= 17M.
This gives me 25M of SDR/DDR royalties that have to be repaid.
1. If they do have to repay the royalties, that reduces their cash position to 67M.
2. If the royalties from DDR/SDR stops, their revenue should drop if we take out the SDR/DDR royalties from the 2000 revenue (which probably kicked in in the last Q anyway). This leaves them with revenue of 24M. (Guess).
This is from their annual report in 2000
Cost of contract revenues.................... 12,093
Research and development.................... 11,501
Marketing, general and administrative ........ 21,140
Employee stock-related compensation expense.. 171,085
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Total costs and expenses.................. 215,819
If I take out the Stock Option expense, I get expenses of 44M.
44M-24M = 20M annual burn rate.
Assuming legal expenses do not increase, I see 67/20M, which means they run out of cash in about 3 years, 4 months and 6 days.
SbH |
