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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable.
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To: James Fink who wrote (1524)3/15/1998 10:32:00 PM
From: Ken98  Read Replies (1) of 2063
 
Jim, re. cash position. I had missed the quote from the January press release and after my post last night decided to try and calculate the "burn" rate for the cash in the bank, if that is even possible.

After re-reading this quote I noticed something:

<<"The company's cash position as of the closing of this note is approximately $1 million. CVUS net working capital deficit is approximately $6 million. Property plant and equipment is estimated at $21 million with debt under $9 million. Stockholders' equity is currently estimated to be approximately $12 million.">>

If the JP Morgan loan was $1 million, and cash on hand "AS OF" the loan was $1 million, does that mean the cash position PRIOR to funding the loan or AFTER? A rather critical distinction don't you think?

See if this works for a cash "burn" rate. These numbers are based on 3Q numbers. If anyone else has any thoughts or a better way to calculate it please do so. This was the best I could come up with.

(1) 3Q Revenues = $1,396,000 or $465,333/month
(2) 3Q Expenses = $5,151,000 or $1,717,000/month

Net monthly operating deficit = $1,251,666

I could not access the Edgar site to get the complete 3Q numbers and I had to use the abbreviated numbers from the Yahoo news release section. I am assuming that the expenses include "non-cash" items like depreciation that will need to be backed out. But this should be a good starting point.
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