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Technology Stocks : PERL (Perle Systems) -networking products for eBusiness -- Ignore unavailable to you. Want to Upgrade?

To: Mark L. who wrote (144)12/16/1999 9:43:00 PM
From: Mark L.  Respond to of 176
 
Further musings (please, someone stop me if I've got this all wrong):

If the Net change in non-cash working capital balances related to operations is related to a reduction in Accounts Payable, then the number is so massive that it looks to me like a setup--all designed to show a meaningless profit these last two quarters in order to goose the stock price so they'd be able to sell the warrants, which they've been trying to sell for six months.

Once again, I'm not saying I've got this right, but I would love to hear a better explanation. Thanks in advance.



To: Mark L. who wrote (144)12/18/1999 1:47:00 PM
From: peter michaelson  Read Replies (2) | Respond to of 176
 
Hi Mark:

The $1.8 million cash consumed by changes in non-cash
operation-related working capital accounts(on the US GAAP
statement) reflects changes from June 1 1999 to Nov 30,
1999 as follows:

Receivables - (.1)
Inventories - .2
Prepaids - (.4)
Tax recov. - .1

Payables - (2.4)

Basically, payables were reduced. The cash for this came
from additional borrowings and from earnings. Total
borrowings increased from 12.7 million to 14.4 million.

peter


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