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Strategies & Market Trends : Sharck Soup

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To: Softechie who wrote (29357)	6/25/2001 12:11:45 PM
From: Electric	Read Replies (1) of 37746

Here is a piece of the article I was referring to.. The company is announcing today that it has decided to repay the $150 million loan under its senior credit facility. By doing so, the company will be able to operate without the restrictions imposed by the facility. With this repayment and the cost containment actions the company is taking, Exodus expects that it is fully funded through the period it reaches free cash flow positive, expected for the third quarter of 2002. By eliminating the credit facility, the company is able to use its assets with greater flexibility to obtain additional financing if it so chooses. Exodus believes that if available, such asset based financings could provide in excess of $500 million of additional funding for the company. Can you say that even with this last round of financing that XOXO will be funded until 3Q 2002?

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