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Non-Tech : Ashton Technology (ASTN)
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To: Rob W who wrote (549)5/3/1999 11:04:00 PM
From: Zeev Hed  Read Replies (2) of 4443
 
Rob, that was one of the first documents I did read, and there I saw that they drew down (by Dec 31, 1998) $8 MM of the $18 MM leaky floorless. Since their burn rate is close to $3 MM to $4 MM per quarter (and accelerating?), they must have now only $6 MM or so left and that will disappear if they do not start generate cash within the next five months or so. They are also in the process, as you said yourself, of launching numerous additional venture, each one will be starved for cash. Under normal circumstances, this would be a set up for a financial disaster (trying to swallow too big a cake). Do you know how they plan to avert such a disaster? It sure looks like a short fuse bomb.

Zeev
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