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Technology Stocks : Zitel-ZITL What's Happening
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To: Michael who wrote (14592)3/13/1998 5:44:00 PM
From: Michael  Read Replies (2) of 18263
 
Reviewing Zitel's Cash Flow.
1) Zitel had $7.1 mil in cash on 12/31/97
2) Zitel other assets (Acc/Rec & Inventories) $10.6 mil.
Zitel also had $4.1 mil. in Acc/Pay and $5.0 in accrued liab.
IMHO the Payables more than offset the Rec. and Inventory
as far as being able to generate positive cash flow.
With this in mind, that means Zitel is currently depleting
it's cash rapidly. Between Zitel and MatriDigm, Zitel spent
$7.2 mil in cash , last Quarter. This equals about $2.4 Mil.
a month in negative cash flow. Assume that Zitel mangement
will try to cutback expenses, I project the following.
Jan. Cash lose of $2.2 mil.
Feb. Cash lose of $1.8 mil.
Mar Cash lose of $1.6 mil.
Apr Cash lose of $1.5 mil.
Total cash lose of $8.7 mil.

Your Friend, Michael
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