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Technology Stocks : Versant Technology (VSNT) -- Ignore unavailable to you. Want to Upgrade?

To: nanocap who wrote (437)	7/14/1999 9:43:00 PM
From: Daniel Chisholm	Read Replies (3) \| Respond to of 477

I'm in the midst of analyzing their latest financing (search any Edgar filing site for their latest form 8-K, it's all there). It looks to me like pretty desperate terms were agreed to (i.e., the shares were sold pretty cheaply). On the other hand, it wasn't a floorless convertible "toxic" financing (what I am saying here is that at least Versant didn't raise money on much, much worse terms). Even though this cash has come at a pretty steep price to existing shareholders, if management succeeds in getting the company cash flow positive before the cash runs out, they might yet save the company. As of now I am still short my original position, entered at 1-5/8, if anyone cares. If my analysis changes my opinion and I decide to cover or short more, I'll be sure to let you know. - Daniel