Re: 10-K
It was interesting to read in the 10-K that Syquest believed that they had enough cash and credit available (after the recent warrant conversions) to get them through the end of fiscal '98.
With 1997 total revenues of $122,723 and $52,771 (43%) of that amount coming from their legacy 5.25" product line, 1997 total revenues from their newer 3.50" product line (SyJet, EZFlyer) were only about $70 million.
So, with their older products expected to decline, a portion of future SparQ revenues will likely be needed to make up the difference.
In addition, it appears the share facts are (as of December 10th):
71,721,583 = Shares outstanding
153,000,000 = Shares accounted for
The difference of 80,000,000+ outstanding warrants and options have an average exercise price of $2.755 per share.
Bottom line here, I agree with you that "complete success is already priced into this stock".
Regards - Dale
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