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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: webpilot who wrote (4427)1/12/1998 2:38:00 PM
From: Zorro  Read Replies (4) of 5812
 
Webpilot:

I, too, would like to know who is CAI's $25M investor. While the identity has not been disclosed, it is my guess that this investor is either an insider or a close follower/believer of CAI's business plan. Furthermore, it is my understanding that CAI was experiencing difficulties with its previous creditor - where accessability to funds in its line of credit was restricted and subject to certain operational parameters - so the new $25M refinancing deal was very necessary to continue its development and operations.

I also find ridiculous the notion that the new credit facility (as suggested by someone in the Yahoo thread) is a conspiracy by management to take over the Company's assets.

It appears to me from the related news release that only the interest (and not the principal) of the short-term notes is payable at maturity. Also, I believe that it is no coincidence that the maturity date of Feb 20, 1998 is only a week before the Feb 28, 1998 expiration date of the BANX option.

Clearly, the key to resolving CAI's situation lies in its finding a strategic partner(s). A favorable 2-way MMDS ruling from the FCC should also significantly increase CAI's chances of finding a partner, but I do not believe such a ruling will take place prior to Feb 28.

Any further thoughts are welcome.

Z
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