Re: "where did the cash come from", Par mentioned that they received about $1.5 million paid back by ABCN. Also that they are due about another .5 million.
I didn't understand what this was for, unless maybe a loan repaid to Osicom. Par said they still have their (our) investment in ABCN which is currently attempting to get investors together to launch, now that Asia seems to be coming back around. In fact, China wasn't as affected as others, anyway.
I assume that's where some of the money came from.
Then, again, I was reading about some companies, even S&P 500 companies, that are finding it can pay off very well to borrow money for stock re-purchasing, given a low stock price or high growth rate. I personally think Osicom fits both of these descriptions. |
