Christian, re. DCLK,
I took a quick look. The latest 10Q shows $53 M cash. Is it possible that your figure of $4M was what they had before a recent offering?
At their present cash burn rate of $5 M per Q from operations, they should stay afloat easily for quite a while.
Here's the blurb in the 10Q about the offering:
The Company completed its initial public offering of 4,025,000 shares of
Common Stock, inclusive of 525,000 shares from the exercise of the
underwriters' over-allotment option, at a price of $17.00 per share on
February 25, 1998. The net proceeds of approximately $62.5 million from the
initial public offering were added to the working capital of the Company.
One interesting thing that I found was a form 144 filed yesterday. The selling shareholder is the co. that previously owned Doubleclick, and they filed to unload 780 k shares. see below:
Form 144 for DOUBLECLICK INC COM filed on Aug 26 1998
Issuers Name
DOUBLECLICK INC COM
Ticker Symbol
DCLK
Seller
JACOBS, K.& E. INC. BOZELL
Address
40 WEST 23RD ST
Address
NEW YORK NY 10010
Phone
212 683-0001
Filing Date
Aug 26 1998
Shares to be Sold
779,302.00
Value
33,509,986.00
Broker
MSDW |
