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Biotech / Medical : Summit Technology (BEAM)
BEAM 21.94-0.4%Nov 18 3:59 PM EST
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To: Louis Cristiano who wrote (955)7/6/1998 12:46:00 AM
From: pappy  Read Replies (2) of 1386
 
From BEAM's Form 10-Q for the 1st qtr 1998 put out on 05/15/98:

LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity requirements have been met through external debt and equity financing. As of March 31, 1998, the Company's cash and cash equivalent balances and short and long-term investments decreased to $72.5 million from $74.1 million as of December 31, 1997. Shares of LCA common stock valued at $12.8 million and $8.1 million were included in long-term investments as of March 31, 1998 and December 31, 1997, respectively.
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The decrease in cash came when the company bought back 250,000 shares of BEAM (straight from their 10Q).

Now, you add in the $35 million in cash that VISX chipped in plus the increase in the price of LCAV from 3/31/98 to now and you're easily over $100 million and that does not include all current assets nor all total assets.

Im curious? Jim, where did BEAM spend $30-40 million between 12/31/97 and today since I can account for all cash and cash equivalents as well as short/long term investments between then and now.

Louis, I suggest you familiarize yourself with the 1997 annual report as well as the 1998 (1st qtr 10-Q) so you can understand and be at ease...I know I am...Pappy
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