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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: trainleaving who wrote (13163)8/4/2001 11:45:10 PM
From: Ally  Read Replies (1) of 15615
 
Such contorted and irrelevant response in RB is a good example why one shouldn't waste precious time reading the stuff there. GX has not released the balance sheet and cash flow statement as at June 30, 2001. During the conference call, Casey said GX had $2.0B cash, and $1.7B unused revolving credit. There is no confusion, and the numbers make sense. It received around $3B net from the CZN sale, paid off the $1B bridge loan (which we all know about for the longest while) to leave $2B cash balance. When GX releases the balance sheet, it should show this amount of cash. All that RB's posters blah blah explanation on working capital is pure red herring and irrelevant on the issue of what is the cash and amount of credit balance as at end of Q2.
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