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Technology Stocks : General Lithography
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To: FJB who wrote (545)8/27/1997 9:45:00 PM
From: Andrew Vance   of 1305
 
I didn't mean to indicate that they were poor but given the enormous capital infusion that will be required for the next generation of process tools, I do not see them as being in a comfortable financial condition. I have suspected for awhile that they were putting cash aside for a possible acquisition to better position themselves in the marketplace. If cash is used for this, they are living on the edge, IMO.

I am not seeing the volume orders for the Micrascans yet so the new facility may become a slight drain on cash reserves. However, you are still owed an apology since re-reading my original post, I may have been given you the arong impression. What I should have said is that I do not feel comfortable with them taking an equity stake in CYMI, given their present cash position and what may lie ahead for them.

I humbly stand chastised!!!

Andrew
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