To: MHS who wrote (19411 ) 4/28/2000 5:24:00 PM From: Zeev Hed Read Replies (3) | Respond to
MHS, I believe his reasoning is that without any sales, the current burn rate is pretty close to $10 MM per quarter. The IDB money, (if memory serves) is actually closer to $40 MM, but I believe we already used a little of it (the Irish give access to it as miles stones are achieved I believe, and the lion share is probably to finance accounts receivable and inventories). Thus, Larry's argument should really go like that, you had $31 MM in the bank last December, you burned $10 MM in the first quarter, and unless you start and cover your overhead with production, you burn another $10 MM this quarter. He also believes that the liabilities on the book need to be paid at once, but I disagree with him on that, none of these were "bank lines of credit", thus there is no real urgency there.
