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Non-Tech : GRIN (Grand Toys International Inc) -- Ignore unavailable to you. Want to Upgrade?

To: Frank McVerry who wrote (459)11/18/1999 11:06:00 PM
From: Kevin Podsiadlik  Read Replies (1) | Respond to of 495
 
<< GRIN has no long-term debt (LTD) >>

So what's this then?

5. Long-Term Debt

The Company has long-term indebtedness in the form of a subsidiary's interest bearing subordinated promissory note in the aggregate principal amount of $1,500,000. Interest is payable quarterly, commencing April 1, 1999 at a rate of 5.76% per annum until June 1, 1999 and 9.75% per annum thereafter. The note is secured by a pledge of 375,000 shares of the Company's common stock.


<< so the cash accumulating through the August option exercise must be added, dollar for dollar, to this estimate for the business. >>

Um, the 10-Q pretty clearly states a cash position of $280K, AFTER taking into account the $8 million from stock options.

Care to make any other trivially refutable statements?



To: Frank McVerry who wrote (459)11/19/1999 11:11:00 AM
From: Dako  Respond to of 495
 
Frank:

Kevin has already enlightened you on GRIN's current cash and debt situation. To add, there is also a $1 million preferred owing to the Ark acquisition. But not to worry. It will turn into another 200,000 shares of stock to add to the float on Jan. 1.


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