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Microcap & Penny Stocks : Dominion Bridge Corp. (DBCO)
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To: MARK BARGER who wrote (438)2/17/1998 9:18:00 PM
From: Chien Li  Read Replies (1) of 535
 
Mark,

You stated that they have a negative cash flow of $32 mil in 1997. That is not correct. Their 1997 operating cash flow is $3.9 mil POSITIVE, see page F10 of their 10K. They took a big hit in writing down one-time charges to clean up the balance sheet to prepare for the acquisition. Comparing their 1997 third quarter (6/31) 10Q with the 10 K, you would see that the total current assets increased from $168 mil to $170 mil. It is the increase of total current liability, from $140 mil to $167 mil, that created the big loss. In that, the increase of account payable and accrued expenses by $28 mil was the major cause. To my understanding, that is one time charge.

I am as frustrated as other shareholders, but I still want to keep the record straight.

Chien Li
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