MatriDigm is still a mystery!
The following is a summary of financial information of MatriDigm, as of September 30, 1997 and 1996:
Fiscal.Year...............1997.........1996
Net.sales.................$123...........$-
Gross.profit................38............-
Net.loss...............(14,549)......(1,873)
Current.assets.........3,816........2,612
Non-current.assets..4,009........1,009
Current.liabilities......1,504..........324
1. Losses: MatriDigm lost about $1.2M per month in '97.
2. CASH FLOW: In fiscal '97, MatriDigm needed $17.5M in investments (or debt). We know Zitel & BRCP invested $5.5M in '97. Does anyone know where the other $12M come from? It looks like debt, since Zitel's percentage didn't decrease dramatically.
3. GROSS MARGIN: Although a small sample, MD's gross margin is only 31% on work completed to date. This falls far short of the 70% margins that the shorts have been using in their analysis of MD's prospects!
Regards, Bill |
