Have been rooting around their 10q relooking over their $ position, and it keeps getting better and better!
Now have about $.80/share in working capitol, $.50/share in cash, soon to be augmented by Decembers payment of $8.7M for sale of facility.
Operating costs for all facilities to be lower, and CO facility still not subleased, which will provide additional cash on hand, not to mention lower ongoing expenses, helping their overall profit margins.
Interest income is increasing substantially, and is a growing part of earnings, on track to have about $3-4M in interest earnings next year, based on quarterly interest earnings of $800K plus. compared to year ago, this company is a LOT more liquid and able to self fund the KM and DST improvements they're pushing out.
I assume Bramson is expecting to have a higher share price to bail him out of the $70M in funding for their outstanding convertible preferred stock (I think that's the proper name for this complicated leftover of deft financing done in 94) rather than debt, they sure won't have that much cash around in 97 when its due. Would be alot easier to issue 2M shares at $35/share from market excitment than to have messier and more expensive debt refinancing. With improving cash position, maybe part cash and part stock?
All in all, greatly improving cash position quarter by quarter, freeing up more resources to exploit the dust gathering leading (bleeding) edge tech patents they're so famous for in the past.
Also noted that lawyer costs for Mitsubishi deal are already around $3M by now, and climbing as we read, so the licensing fees they're fighting over HAVE to be SUBSTANTIAL, obviously more millions than that. If they can just win this one when it comes through it'll be a BIG shot in the arm, asset and eps wise.
Go Ampex! |
