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Technology Stocks : XYBR - Xybernaut
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To: Charger who wrote (652)5/18/1998 12:35:00 PM
From: Shane Venem  Read Replies (2) of 6847
 
I take it from your reply that you've realized that XYBR is operating from a position of immense financial weakness and not strength.

Did you read the press release today? Here's part:

John F. Moynahan, Xybernaut's Senior Vice President and Chief Financial Officer, stated: ''Xybernaut recently established a $10
million standby line of equity that secures the capital required for the launch of the MA IV and is available for future funding. We
intend to use this facility as a backstop while we are optimizing other strategic and long-term financing alternatives, consistent with
our objective of funding growth while minimizing dilution to shareholders. A portion of the stock that could be issued under this
facility has been registered with the SEC, but as of today, Xybernaut has not sold any stock, or taken any money, under this facility.
As with all Xybernaut financings to date, any proceeds from drawdowns on this equity line will be solely for corporate purposes.''

I think it's really cute that they paid lip service to minimizing dilution while simultaneously announcing that they can and will sell stock to finance operations. But they haven't "as of today." In a nutshell, the company makes no money, so it uses stock as money. What does that do to your shares? Think about it.



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