Frank:
It would be helpful to review the last 2 ALSC quarterly reports to evaluate the liquidity situation. See below:
1997 1997
9/30/97 3/31/97
(unaudited)
--------- ---------
ASSETS
Current assets:
Cash and cash equivalents $ 19,079 $ 22,489
Accounts receivable, net 15,206 16,827
Inventory 33,533 29,535
Deferred taxes 19,018 17,851
Income tax receivable 0-- 14,633
Other current assets 1,159 1,636
Total current assets 87,995 102,971
It would seem ALSC has burned off the $14.6 million in the tax refund. In addition, the inventory is now probably only now worth $20 million max. They've got to announce some drastic cutbacks or they've got only 90 days left. One way out is to sell off some of the fab investment but..... there go the crown jewels.
Lot of other companies in the same boat.
Ken |
