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Non-Tech : YouBet.com (UBET)

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To: LLLefty who wrote (168)	5/18/2002 1:30:41 PM
From: RCJIII	Read Replies (1) of 221

Lefty- Preakness is this weekend. Should be another great one for UBET. Why are you pessimistic on financing? According to the CEO in the CC, the company has over $3 million in cash on hand and a current burn rate of $300,000. That allows them to survive 10 months at least on current cash, not counting any upside in the business they may experience during the racing season, which could be substantial. They probably don't need much money at all to get them to break even. The CEO himself put $750,000 into the company when he rejoined a few months back. Another million or less is probably all that is required, barring major capital expenditure needs, to get them to breakeven or profitability. I like the fact they are seeking debt financing rather than equity. Unlike most management teams guiding <$1 stocks, they actually seem to care about their shareholders. I am pretty bullish at these levels. RCJIII

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