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To: telephonics who wrote (988)	12/11/1999 7:11:00 AM
From: Q.	Read Replies (1) \| Respond to of 994

operations will cease in the springtime: that is my cash-burn forecast. I finally found a 10Q so that I could figure it out. My usual Edgar service is confused by the name and symbol change, so I had to look at the sec's own site. Here's what I found: cash dwindled from $8.35 M on June 30 to $4.83 M on Sept. 30, giving a burn rate of $1.17 M per month. Extrapolating that burn rate, they had 4.1 months of cash remaining at the end of Sept. So they should be insolvent in EARLY FEBRUARY. Alternatively, applying the working capital burn rate of $0.94 M per month to the remaining cash, they will 5.1 months of cash burn remaining, and the will be insolvent in EARLY MARCH. I would assume that as the end nears, they will reduce cash burn by reducing expenses and stiffing the vendors, so that they can drag it out several more months beyond early March.