Vicon Industries ( VII ) Message Board

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Technology Stocks : Vicon Industries ( VII )

VII 0.206

-24.6%

Jul 11 5:00 PM EST

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To: Hank who wrote (62)	3/19/1998 11:45:00 PM
From: Dwane Houghtaling	Read Replies (1) of 118

Hank or nK. VII recently came to my attention. Of course, the first thing I did was check out what's been written here. What can you tell me about the cash flow situation with this company? Looking at the latest 10Q, it didn't sound good. Lots of debt though buying a facility isn't cheap. However, the 10Q talks about a $990,000 overdraft capability in the UK where almost 50% has been drawn upon. The credit agreement of $6.5M has drawn $4.5M too This on top of the $2.9M mortgage? Then theres the interest bearing trade payables amounting to $6.4M due on demand. "The Company historically has made trade payable payments to CBC as cash availability permits." Permits? It also talks about an increase in accounts receivable being offset by lower inventories. Has this company had a history of not collecting on its sales? The secondary would certainly help the debt situation, but what a situation. The charts on this look good with a good PE but the debt situation has been concerned. Any insights would be most appreciated. Dwane

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