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Technology Stocks : Truevision
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To: Patrice Gigahurtz who wrote (105)12/20/1997 2:34:00 PM
From: Esvida  Read Replies (1) of 216
 
Patrica,

I found the following paragraph in the most recent SEC filing. Is it the same one as the one you looked at? If so, it means there's no outstanding borrowing and 3.5M available as of 11/9/97. The line is tied to AR and inventory. Either the co improved AR or some of the inventory lost some value which caused the available line to go down. Please advise and post the article you looked at if it's different.

"The Company has a one year revolving line of credit agreement allowing
the Company to borrow up to $7 million based upon percentages of
eligible accounts receivable and inventory. The primary financial
covenant of the line of credit is a tangible net worth covenant. As of
September 27, 1997, the Company had no borrowings and $4.0 million
available under the line of credit. As of November 9, 1997, the Company
had no borrowings and $3.5 million available under the line of credit. "

-Al
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