Readhead, SAFS is definatly interesting. They have distribution arrangements in South America, Asia and Europe and are planning on
bringing products to market in the third quarter of this year. Yahoo
quotes has a price of 0 for the stock but I can't find any reference to the stock being halted or any reference that the co. has applied for a Nasdaq listing.
I see that the Co. burned up money at quite a pace last year and is financing itself by issuing new shares through private placements. Another private placement is expected. Last year they burned almost 5 mil. and they issued about 3 million additional shares. There are currently about 12 million shares outstanding and they're authorized to issue an additional 25 million shares.
Anyone else look this one over?
Regarding your question on Dillard, they're selling debt to finance their acquisitions and the recent stock buyback program that they completed. From their 10k:
<The Company expects to finance its capital expenditures, common stock
repurchase activity, and working capital requirements, including required debt
repayments from cash flows generated from operations and by issuing new debt.
Quantitative and Qualitative Disclosures
about Market Risk
The table below provides information about the Company's debt obligations that
are sensitive to changes in interest rates. The table presents maturities of
the Company's long-term debt and related weighted average interest rates by
expected maturity dates.
Expected Maturity Date
1998 1999 2000 2001 2002 Thereafter Total Fair Value
Long-Term Debt
($000) $107,268 $108,005 $108,788 $59,636 $110,555 $978,732 $1,472,984 $1,617,870
Average Interest
Rate 8.5% 7.6% 9.3% 9.6% 7.5% 7.8% 8.0%
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Sergio |
