Anyone have a comment on PLC's balance sheet, something I have difficulty studying.
CONDENSED BALANCE SHEET
March 31, December 31,
1998 1997
Cash, cash equivalents
and marketable securities $12,957 $16,329
Total current assets 17,126 20,680
Total assets 23,759 27,017
Total current liabilities 4,540 7,887
5% Convertible Debentures --- 3,819
Shareholders' equity 19,116 19,009
Total Assets are down $3,258M, but current
liabilities are down $3,347M.
Shareholder's equity is up $107M. Partially,
I assume, because $3,819M in convertible
debentures no longer exist. (Were they
converted into common shares, and if so, should
shareholder equity be viewed as $15,297.)
Is the important thing here that cash and cash
equivalents far exceed total liabilities? A healthy
balance sheet?
Richard James |
