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Technology Stocks : Vidikron Technologies Group (VIDIC)
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To: firstman who wrote (744)10/2/1998 4:55:00 PM
From: jbIII   of 782
 
firstman,

In June 1998 the Company completed another private placement of preferred stock for gross proceeds of $0.4 million, resulting in net proceeds of $376,000. These sales of capital stock along with existing cash balances primarily funded the net cash used in operating activities of $4.2 million and the $ 1.8 million advance to Vidikron made pursuant to the definitive acquisition agreement

sec.yahoo.com

Deal was supposed to close by 9/31. Balance due is 8.2million, and the $1.8m is non-refundable if they don't close the deal.

jb3

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