Jalil, an IPO that spends its cash? What a shocker. LOL, go back and study IPOs, and I'll study more on DDIM, a deal? <g>
Well, here is the management discussion from Q3 for those of you out there who don;t have it:
<<Liquidity and Capital Resources
At September 30, 1997, the Company had working capital of $15.1 million compared to $14.2 million at December 31, 1996. Net cash used in operating activities approximated $3.7 million for the nine months ended September 30, 1997 as compared to $1 million for the comparable prior year period. Cash provided by net income was more than offset by increases in accounts receivable, which accounted for most of the use of cash by operating activities.
Net cash provided by investing activities was $4.4 million during the nine months ended September 30, 1997 as compared to net cash used of $14.4 million during the comparable prior year period. The increase in cash provided by investment activities resulted from proceeds from the maturity and sale of investments of $7.7 million, offset by purchases of equipment and furniture and investment in product development. During the last six months of 1996 and the first nine months of 1997, the Company invested approximately $1.2 million and $1.4 million, respectively, in capitalized product development cost in personnel and other related operating expenses in the development of an advanced product based upon its current proprietary Year 2000 process. The product, Ardes 2k, is licensed directly to clients and third-party providers, including computer and software companies, systems integrators, and consultants.
The Company has no significant commitments for capital expenditures and believes that based upon its current operating plan, cash generated from operations and its cash and investments will be adequate to finance its current working capital requirements. >>
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