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To: James Connolly who wrote (6995)12/17/1999 10:11:00 PM
From: lkj  Read Replies (1) | Respond to of 10309
 
James,

AR increased from $28.5 million at the end of Aug. to $39.4 million. AP increase from $4.9 million to $6.1 million for the same period. I have not studied the number in detail, and probably will not do it, but I think deferred revenue is a lot higher than the $3 million admitted by the management. Adding on top with a $5 million deferred income tax, we are setting ourselves up for a great 2000.

Khan