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Technology Stocks : CDDD -- Ignore unavailable to you. Want to Upgrade?

To: Amit Ghate who wrote (228)	11/15/1999 5:51:00 PM
From: Q.	Read Replies (1) \| Respond to of 924

CDDD filed its form 10. They got a going concern qualification from the auditor. It says they have enough cash to last through Nov. 1999. (that's now, isn't it?) and that they are attempting to raise more money. The balance sheet looks lousy, with negative working capital and negative shareholders equity. It looks like there are about 13.5 M shares outstanding now, so the market cap is about $300 M. Shareholders equity is negative, so price/book is not meaningful. PSR and p/e are also not meaningful. The only way you could value this as a development stage co. would be on a multiple of R&D. R&D expenditures are about $1.7 M over the last 18 months, so the stock is trading at a huge multiple to R&D. Strangely, there is no mention of anything in Vancouver. In fact, there's no easy way to figure out where the co. is located or headquartered, based on this filing. It does mention a few offices or buildings that it says it is leasing. The auditor was based in Seattle, which is funny for a company that doesn't claim to have any offices there or in Vancouver. tenkwizard.com Be sure to look at the pro-forma financial statements.