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Technology Stocks : SI Diamond Technology (SIDT)

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To: Joe Master who wrote (372)	8/7/1998 6:09:00 PM
From: Joe Master	Read Replies (2) of 623

Looks like I was wrong they an out of money faster than I thought they would. They ran out in July and had to borrow $100K from a shareholder and converted $90K for warrants into 600K shares ($.15 each). Now they will get $250K from the escrow account from the DTO sale (they are giving up $145K to the company theat sued them for a release so they can get some cash in quick). They will take $102K of this $255K and payback the shareholder loan which will leave them $143K which will last them about three weeks. So before the end of the month they will need to sell more shares. BTW did anyone notice they have 35 million shares outstanding now. Six months ago I beleive the number was 22 million. If they need to issue shares to fund operations at the current level (and to payback the $2.5 million curent liability overhang) over the last four months of the year they will issue at least 18 million more shares just to stay in business. That assumes the buyer accepts a $.20 pricce which is very unlikely. So maybe it is possible they will double the current outstanding shares by yearend.

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