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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (6640)	2/10/2000 11:38:00 PM
From: golden_tee	Read Replies (2) \| Respond to of 10293

<<Back out the placement and vlnc would have ran out of cash!>> "Short one" (I borrowed that from your wife), leave it in and they have all the cash they need. And the confidence of another Big Boy who has done approximately 10,000x the dd you and bill have done (combined). You are a fool, and if you are also short, a much poorer fool. I am firing up another Cuban, feet up on my desk, with a big smile on my face. How are your "investments" doing?

To: RockyBalboa who wrote (6640)	2/11/2000 7:53:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 10293

Info, if VLNC reaches their targeted sales rate of $75 MM annually, they will not have to go to the well for two reasons, they should be in a positive cash state, and to finance the additional $75 MM in sales (or about $25 MM in additional working capital) they can go to the IDB and draw down their loan line, The $31 MM should suffice for a full three quarter at current burn rate without sales, and I think that they will reach sales rate well in excess of $10 MM per quarter, reducing their burn rate by half or there about, and once they get to $25 MM per quarter, they should be in the "get growing" category. Sure, Murphy can have their way with VLNC and they may run into some trouble, but with $30 MM plus in the till, and a credit line of close to $40 MM from the IDB, once they start shipping from Ireland, they should do fine. It is no longer the floorless situation it was prior to early November last year. Zeev