SYQUEST Message Board - Msg: 3410239

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Technology Stocks : SYQUEST

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To: SJSharky who wrote (5497)	2/12/1998 4:06:00 AM
From: Dale Stempson	Read Replies (1) of 7685

Re: Financial Plan With the huge loss reported and low cash availability, Syquest will likely need more money soon to continue the SparQ ramp-up etc. Here's a snip from their 1/9/98 S-3/A SEC filing: (Check out the last sentence) __________ The Company may need additional funds for promoting new products and working capital required to support increased sales and support the required investments in accounts receivable and inventory. Management's financial plans for fiscal 1998 anticipate raising additional equity capital primarily through exercise of currently outstanding 30 million warrants issued in conjunction with previously completed financial transactions. If these outstanding warrants were to be exercised the Company would receive cash proceeds of approximately $90 million, however, the outstanding warrants do not include any demand or call provisions. Management may have to entice existing warrant holders to exercise their warrants by offering discounts to the contractual exercise price and/or issuing exchange warrants at market or negotiated discount exercise prices. __________ Regards - Dale

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