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Technology Stocks : SmarTalk (SMTK)
SMTK 1.060-10.9%Dec 31 3:59 PM EST
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To: JakeStraw who wrote (245)1/8/1999 3:49:00 PM
From: Noblesse Oblige  Read Replies (1) of 283
 
I'm with you,Garcia.

Who is going to give them a cash infusion? "Cash infusion" means equity, so any new investor would be placing himself behind *all* the outstanding debt in terms of claims on corporate assets.

As you point out, cash is disappearing quickly. And, in normal business conditions, it should be *increasing* to reflect phone card sales that have been made and activated, but have not been used.

Thus, cash balances can be rising even if revenues are flat, because revenue isn't recognized until a call actually passes a switch.

For cash to be collapsing like this, there is something else going on in the business.

It looks like "history". If you want an opportunity to hedge your bets, why not look at other phone card companies with their costs under control and reasonable business models? Everyone here has overstayed the party big time.

And...who knows how the lawsuits will turn out? Those insider sales look better every day.
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