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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc.
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To: pat mudge who wrote (2277)5/27/2001 11:03:09 PM
From: Greg Thornton  Read Replies (1) of 2484
 
The burn rate is quite a bit less than $5MM US. This is an anomaly created by the fact that the exchange rates used in determining December 31 and March 31 numbers were significantly different. If you calculate the burn rate in Canadian Dollars and then convert to US Dollars at the current exchange rate you will see what I mean. In any case, the conversion to US Dollars is informational only since the vast majority of their expenses are in Canadian Dollars.

They have more than a year's worth of cash on hand, and that is before any burn rate reductions undertaken by the new CEO, Gary Moskovitz.

Also, they have had the US $17MM all along. It is the remainder of the US $35MM financing they received last summer. Please post the section of the filing where you determined that they only had US $5MM in cash at the end of the quarter.

It is just this kind of post that has earned you a reputation for distorting the truth to make it fit your preconceived notions.


Greg
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