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Strategies & Market Trends : SPATIALIZER AUDIO LABS INC (SPAZ) -- Ignore unavailable to you. Want to Upgrade?

To: Currency who wrote (1000)	7/22/1999 9:30:00 AM
From: Jim B	Read Replies (1) \| Respond to of 1113

from RB: SPAZ financials - as a "turnaround play" : 10Q QRT1 99 Cash 44K - still able to sign Toshiba, Acer, Hitachi, and LG Electronics to licensing agreements. Open office in Tokyo, Japan where the OEMs are). Earnings 22k - basically a break-even QTR Margins 92% - typical of Licensing Agreements. Long-Term debt = 0 (closed out bank credit line in Fall 1998 with no borrowings outstanding) Short-Term debt = $2.2MM of which 600K is associated with discontinued Multi-Disc Technology and secured by the MDT assets which are for sale. Cash-Flow = negative $2+MM to be covered by net revenues and additional capital financing or borrowing. Operating expenses should remain in $300 - 400K range. Revenue - SPAZ receives revenue approx 1 QTR after OEM "rolls-out" product. May receive smallish portion of Toshiba's intial roll-out of DVDs in MAY, but most other OEM revenue won't appear until QTR3 and then largely in QTR4. For QTR2, anything over 500K for QTR should break-even. SPAZ has taxloss carryovers (typical of turnaround). Again, see 10Q Q